They will charge extra for any extra work performed, but it could be much more beneficial than tying up that much equity in a partnership with someone you don't know.Also, if you ever do have a partnership, spend the money on the front-end with an attorney to get a sound operating agreement that makes the divorce less messy if it comes to that.

I would recommend you make sure the company you guys choose for PM track all the maintenance costs that you guys spend money on 

Option 1a COULD be ok, but only if you can spend that $20k and add more than $20k in equity prior to sale which is no certainty when you're starting with a rent ready property.

Hello BiggerPockets,After reading numerous books from the BiggerPockets library and spending more time on Loopnet than I would like to admit, it is time for me to put some of this knowledge into action. 

You could only buy one house for $400,000 in Cody, Wyoming.NOTE: please do not spend every dime you have to purchase property!

I wouldn’t spend a lot on courses or mentors starting out.

This all depends on your income, your spending, and your dependents.

If more investors spend a fraction of the time and energy spent worrying about asset protection and do the things on a daily basis that prevents liability exposure, plaintiffs attorneys won’t eat as well. 

This question verifies the tenant’s responsibility in managing household expenses.

If you bought a house for $100k and replaced a 20 year old heating boiler spending $10k, how much would that increase the properties value if you immediately tried to resell it?