However, it is only day 1, so I will have to see how it goes and what other lessons I learn.I did also put together house rules, and go over everything with the tenant upon arrival (I did talk about any "rules" during the final interview to make sure we were both clear on expectations), and provided a written copy.

Otherwise, as @Nathan Gesner points out, it can be MORE expensive than hiring the right professional.ALSO:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

My understanding is previously the norm was sellers were still “expected” to pay buyers agent commission but now that the norm could be shifting is that still part of the buyer/seller negotiation?  

It comes down to expectations, I think you will defiantly break even.

This allows both parties to discuss expectations and ensure alignment.

@Doug LearnardRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

I expect one tentant to struggle and he has 2 kids. 

@William SilvaRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Many of the shiny object brokers I expect every day to see they've decided to call it quits. 

If your goal is to get into short term rentals - analyze the deal to a point where it can still work as a longterm or midterm rental if short term doesn't perform as expected.