Being a subject matter expert, not because you are forcing it, but because you simply ARE, shows through, and investors are rightfully attracted to that. 

Quote from @Cynthia Lee: Accepting even $1 could be seen as evidence of a payment plan, and the entire eviction process could be derailed.Once you start the eviction process, to not accept any payment unless it is a full payment in certified funds (cash, money order, cashiers check).

You’ve heard from several experts I respect so nothing I say below is any reason to believe otherwise.

You really have to be an expert and outshine the competition here.

I want a specialist that's an expert, and not a jack of all trades and master of none.

We meet twice a month: once to vet a passive investment together, and once to bring in an outside expert to present on their area of expertise. 

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

If there are changes you want to make then send your tenants official notice of those changes via in person delivery or certified and regular mail along with a copy of the new lease.

But be sure to consult with your own experts and accountant.

Ask an expert of course but that is my idea for it!