Since they are not common, or in any quantity to any area, they are hard to finance since they are hard to get comps. 

If you've had a license for eight years and don't know how to get a PM license in your state, then I would suggest you don't have sufficient knowledge or experience to take on the responsibility, particularly in a state that is very difficult to navigate. 

Each are better suited fordifferent business strategies.You will need to personally guarantee the loan, andhave sufficient net worth and liquidity (which will again vary based on thelender and product type).

Where population growth is stagnant or falling, the current housing supply is sufficient so there is little increase in prices.

Your basic insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

Buildium offers comprehensive property management and accounting features, so many users find it sufficient to replace QuickBooks.

You don't cash flow a lot (and in some areas you may not cash flow), but over time the tenant pays down your mortgage and (hopefully) the house appreciates in value.Go for quality over quantity (ie don't buy a cheap home in a bad area.

Correct if the title company you were using would not give me insurance sufficient to cover your fee I would not buy it or fund it for one of my JV Partners..

Regardless of direction you go, the allowances in your contract should be clear and quantities and material specs should be clearly defined.

I made this mistake when I was starting out - I got excited about the returns of a development deal - but I didn't pay attention to the fact that I needed to be a cash flow investor because I did not have a W2 income, nor did I have sufficient passive income yet.It is critical for investors to understand the relative importance of evaluating the sponsor, alignment of interests and the deal.