Property manager is generally around 10% as well. 

In terms of negotiating the deal, we looked at the property and its condition and negotiated the price down and eventually met in the middle.

Its much harder to turn a property around in 6 months expecting to have 100% of your money returned back to you - but if you focus on the right property focusing on highest and best use with an ADU add (like mentioned), in-fill/lot split, or other rehabs - then hopefully a semi-decent property like that will perform like a champ in a few years. 

Purchase price: $525,000 Sale price: $575,000 I regret selling this property but was moving out of state at the time so it made sense to sell.

My first property is in Warner Robins GA.

Quote from @Dan Shuder: Not all property managers are equal.

I’m new to real estate investing and am in the process of trying to acquire my first property.  

I purchased my first investment property through an online auction for delinquent property tax.

If you're counting on getting some financial aid for your children's education, you'll want to take a good look at how owning an investment property (negatively) impacts financial aid.

TLDR: Quicken (quickbook’s little brother) is super easy, cheap, and still overkill for someone with less than 20 properties.