If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

Our logical process:1) Use Neighborhood rankings to narrow down area of city you want to invest in2) Focus on getting to know that Neighborhood(s), so you know the good & bad streets, block-by-block.3) Be patient to acquire properties on good streets that meet your buying criteria.Our rankings are done with a "bell curve" approach.

At least run this with good, bad, worst scenarios.

That looks pretty bad for your cash flow.

Definitely a bad move on my part. 

It is my belief your current situation is not a bad position (it is a goid position that will improve with time).  

It's so bad that my last purchase was in Indiana, which was my first OOS investment, and likely will continue to look there if the market doesn't improve here.  

It may not be a bad idea to also be added to a MLS search to receive any new build listings. 

Yes, there are many out there that do it and nothing bad has ever happened, and I say kudos to that, I just would never do that.

Brandon Turner's Rental Property Investing book is an excellent primer to understanding the happy path for purchasing a property - however in this market it really comes down to having bulletproof assumptions on rents/taxes/R&M/etc. as with rates as high as they are/inventory as low as it is, there is less cushion in your returns if you analyze properties with bad assumptions.