Currently, the other side of my duplex has 3 rooms and they are all rented out individually.I think the bathroom downstairs will be a necessity since 4 bedrooms and 1 bathroom doesn't seem very ideal. 

So would a property management company be an absolute necessity or are there any other options on acquiring a property in locations like Orlando and generating income?

Given that you put so little down, the payments by necessity are often quite high.

I mean wow, if you make 101k/yr and and renting in Chicago by "necessity" and not choice, call me so I can turn you into a homeowner in the next 30 days.This bill puts so many people into the rent-controlled category that essentially the market rate will shift downward even for non-rent controlled tenants.

Thinking that the attorneys license and right to an income mean something.I understand the necessity of paying bills and the necessity for programs for those that can't.

I don't personally see the necessity for a local lender...

Those here who have been through more than one cycle have some experience there.Housing is a necessity.

It's good to have an exit strategy at the beginning, but it should be more based on strategic necessity than forecasting appreciation over time. 

Hey, maybe someday I will have learned enough that I can help some other beginning Investor out.As a final note, one of the things that I like the most about this industry is that it requires everyone to help one another out - team work is a necessity, and in order to flourish you have to help everyone else win, just as much as yourself.

Plus there's my added necessity of having boots on the ground.Would it be worth my time co-wholesaling with another individual who is based locally?