I like new construction since there isn't any deferred maintenance and the properties should be relatively maintenance free for the first couple years (although it's good to include maintenance/repairs in your pro forma and maintain reserves just in case). 

Also, be sure to factor in maintenance and potential CapEx, especially for older properties.

Communication with tenants, rent reminders, maintenance requests, etc have all been seamless. 

You also need the operating cash to do rehab.I say this because you mention FHA and low money.

You are correct in your assumption that it will impact how low they can go on the down payment, though, b/c commissions will need to be paid out of closing costs. 

Hopefully, you find it helpful and qualifies us to assist you with your goals:)---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.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 property in Class D area to Class A standards, what quality of tenant will you get?

Let's assume your expenses (mortgage, taxes, insurance, maintenance, vacancy, etc.) comes to a clean $600 and the property rents for $1,000.

., are ONLY transaction based.A PMC has to deal with your property, tenants & maintenance EVERY DAY until you sell or terminate them.A great PMC can provide contractors and also check out properties for you. 

Note the property tax will be -10% on the rent by itself.Month 0 to 24: $2450 * 0.5 - $1573 =-$348/monthMonth 24 to 60: $2450 * 0.5 - $1541 =-$316/monthNext issue is due to the low leverage starting at month 24, the ROI takes a beating.  

We are hoping to streamline tenant communications, maintenance requests, and payment records.