Long-Term Goal: The real-estate assets continue to produce recurring income that I can access in retirement.Look forward to learning more from the BiggerPockets forum members and the Podcasts as well. 

The location works well for me, but I actually have a recurring meeting on the 2nd Wednesday of each month as it happens....

The brokerage i'm with is very inexpesnive as far as recurring costs(mainly just your dues to be a Realtor).  

My ultimate goal is recurring passive income.

As a general rule, when you are "all in" with your monthly recurring costs (taxes, debt service, insurance, repairs etc) and you are clearing 10% on a SFH - that is pretty damn good.  

I thought I'd do him a solid of letting him have recurring revenue by being a PM so I didn't vet him like I did with the other PMs.TL;DR hire a professional PM company, not a realtor, to be your PM.OK, so now you got the deal, closed on it, and got a PM.

Enter recurring charges and automatic late fees.

I have enough recurring income to carry the investment property. 

When selecting an investment city, it's important to take into consideration all major recurring costs.

According to the city's website, I need to apply for a Type 1, Partial Unit license, which costs $443 for the license, and then $236 on a recurring basis.