A PM of worth at let's say yr7, has done hundred upon hundreds of listings, and dealt with a range of properties and tenant situations most transactional agents will never experience in their entire life time.

Make sure you have a process in place for responding to comms efficiently and resolving issues among members and issues with the house as quickly as possible.It's worth the income and the feel-good feels knowing you're helping out your community. 

That means calling the inspection office to see if they have an open permits, if it is in fact a legal x unit, does it have any housing violations, has their been any police activity near the property, have any of the current tenants had an eviction on their record.

Imagine the 2nd property is a 4plex, each unit can be rented $1500/unit of 75% =$1125 x 4 units =$4500 worth of income to offset your that 2nd property.

For me the cost of the 3-day workshop was worth it.

But I will say its worth the effort in the long run at least for us..  

Many jurisdictions will not record a subdivision plat until you've put in (or bonded) the infrastructure (power, sewer, water, roads, etc). 

I've heard Propstream might be worth looking into too.3) I think when you're starting out, you should go ahead and take the pictures. 

A builder’s risk policy is also worth exploring, as it can protect the property, materials, and equipment during your restoration work. 

Seems worth it though, so I'm not running around trying to piece things together an build my own empire of employee and agents, etc.