Do you know how you will handle late rent?

Challenges?

Buying multiple lower-cost rentals would diversify income streams, or you could go for a short-term rental for higher returns if you can handle the management.

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Personally, I couldn't have handled the responsibility of a RE investment when I was 20. 

Challenges?

I'm unsure how to handle the water heater.

I would also suggest getting a PM to handle this.

I feel capable of handling my accounting in general, but I primarily need help with taxes for my real estate and small investments.

Sounds like a challenging but rewarding project!