For several reasons (property taxes, politics), I would prefer to begin real estate investing somewhere other than locally. 

Almost every REMIC is in violation of it's tax status.

How bad is the insurance, how high are the property taxes, is there an Hoa, etc etc. 

Keep in mind taxes go up as do rents.

Most bankers can run live pricing to help you make a final decision without having to have your credit pulled several times or fill out a dozen applications and submit docs!

@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.

I recommend that you look at Notice of Defaults, Vacants, Tax Liens or Probate. 

But now things are working more smoothly and after finalizing the accounting for last year, I have a better idea as to what kind of profit to expect.  

So, if you don't have time to do that, you can hire a PMC to do placement only, even an agent, but recommend YOU have final say on approving them.

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