Expecting annual appreciation of 4% on the property value and 5% on the rent, HOA, taxes and insurance.

Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Tenant performance decreases as the property Class decreases.Have seen too many out-of-state investors misread the City of Detroit neighborhood markets and liquidate their holdings when their expectations weren't met. 

One thing I will tell, south Florida is expected to keep growing.

If it was a ch7 you have a better chance to get a property but ch 13 typically they don’t want to sell and if they do then you would need t convince them and the trustee to allow it to be sold.

From the looks of the sign, I'm not expecting there to be detailed reports on facility maintenance. 

Make sure you get an experience realtor that can guide you through the leasing process, vette out any prospects, explain what your duties as a landlord are and what to expect, good bad and ugly.

Regarding investing remotely: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?

They're also expecting an official offer on the second property soon.If everything goes smoothly I'm obviously glad that my money isn't gone, but I don't think that excuses the lack of communication and inability to respond to LPs.

If you do enough BRRRs over time you'll see a few values come in lower than expected and a few come in higher than expected.