Quote from @Joel Oh: Your business must make money day 1.It is so much more difficult to fix the model that is not making money than starting a new business that makes money day 1. 

If it's a QM you won't be able to close in a business entity like a LLC, although in some cases you can transfer into an LLC after closing.

Nearly all of our business came from the relationships that our originators had built over the years. 

I’ve worked with several first-time investors, including out-of-state buyers like yourself, and it’s 100% possible to build a successful short-term rental (STR) business even when you’re managing remotely.

Business owners won't want to get tied up in litigation and if there is a good chance they will lose, it is easier to simply follow the contract.How would that work with a lower-end tenant? 

I asked him a lot of questions about the business and as soon as I got home I was doing research and joining RE forums focused on multi family.

PS is revolutionary because of how it has simplified access to all of the various data points investors need to make a decision and because of this its extremely popular.You do not want to be using a popular lead source to increase deals because everyones chasing the same deals.And nothing will change with there data because there business model forces them to have to buy and license the data they get which means waiting for the county/databroker to send it to them which guarantees anyone using PS data will be behind the counties, only getting a fraction of the leads and getting those late leads the same time as everyone else.How do you get access to the leads first.

Trustin your PM partner is important and they will follow your lead, so don't expect them to provide you with your business plan. 

And this does not even involve business or real estate!

They all went out of business , the good ones don’t want to manage small properties .