You will spend lots of time checking the quality of their work, from TAXES, to the most mundane administrative work of Registered Agent services.

@Laura YelinI’ve never been, but when considering new markets I usually just fly there and spend a few days there scoping it out.

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

I'd look for a good brand and spend some time looking at reviews from a big box store. 

The entire focus is on new people because they spend on more.4.

I mean there is so much to scrutinize here we could spend an entire afternoon reviewing the actual deal let alone the financing.I wish you luck either way man.  

As a starting point: -If they work full time and make $700k a year -Don't want to or can't spend time self managing a short-term rental -Don't have a spouse who wants to take the lead on managing the rentals They are likely not going to directly reduce their taxable income with real estate year-to-year. 

Spend time where sellers and brokers gather.

Monitor your spending habits to make sure you’re consistently putting money aside for both the short-term and long-term costs of real estate. 

If your time is worth $500 an hour I would spend the 5k on 10 hours of searching for a free mentor.