Here are a few lessons I learned during the renovation, many of which stemmed from the age of the house and unexpected hidden damages:1.Damaged Plumbing: Several plumbing pipes were ruptured or severely damaged, requiring replacement.2.Termite Infestation: I discovered termites, which led to additional costs for treatment and repairs.3.Rotted Wood: Significant sections of wood in the structure were rotted and had to be replaced.4.Lack of Insulation: There was no insulation in the att Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Unless you are confident in estimating the renovations needed, I would highly recommend getting a contractor's professional opinion of the rehab costs.

I would at least recommend you have them shop a policy for you.One thing we did note is that with hail damage to roofs, they seem to be decreasing coverage/increasing deductibles on that if ever needed.

@Nate LaBlance while @Stuart Udis has some great advice, we do NOT recommend letting an agent do your tenant screening.First off, they have a CONFLICT OF INTEREST - they don't get paid until they place a tenant.

since as part of the project you are going to need an architect and civil engineer, I recommend starting with them and ask them who they have worked with for zoning.

@Mike Terry recommend before buying - find a reputable PMC!

I recommend trying it for yourself.. pay to analyze a few properties... the first free 5 doesnt do any justice until you get used to using it. 

Don't get me wrong I'm happy to help get you some estimates if that's useful hahah but still not something I'd recommend. 

Quote from @Andres Lasaga: I am in the process of selling a property to the tenant I have been renting the house for 4 years.I want to outsource the promissory note collections and reportsIt would be only ONE property, for now, any recommendation of a company that can manage the collections and reporting?

Not that I recommend any of the information, but just giving you a place to go look.