, could you let me know also? 

TYI still know property managers who swear by them.

Quote from @Diyan Yap: Welcome Mark, we are both in Texas.What strategies do you know and have you found any deal yet?

I agree that the upside here is knowing most of the mechanicals need to be redone upfront, so there should be fewer ‘surprises’ along the way.Setting aside a solid contingency fund is a must—do you have a rule of thumb for that?

You don't know, what you don't know.Bigger Pockets is a great place to find a tax accountant specializing in real estate taxation.

Quote from @Dereck Olson: Hi Nicholas,  Just a thought from the possible tenant's perspective, but filling out a prequalification form and/or providing personal information before they have even seen a place and know if they will be interested in living in the property might be a bit too much to ask. 

Let me know if I can be of assistance.   

So, that adds to the risk more-so for a novice who doesn't know how to factor in that risk. c.

I don't know anything much about real estate, nor have the money at the moment.

So in the words of Clint Eastwood: "A man has to know his own limitations."