To avoid going through the same poor experience, keep reading.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!

I definitely plan on building a team in the market we select. 

I also have a wide range of other investments, including stock options, which I plan to rely on in retirement.

Wishing you all the best - but wanting you going in with your eyes wide open!

@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.

Use a wide-angle lens so you can fit more of a room into the image, and try different angles to show more of the room. 

Have a list prepared around a nice area of houses that you have selected that will fit your criteria....maybe see the insides of one or two?

You get out there and put deals together with your eyes wide open to avoid as much as you can. 

I also agree that funnel is big and wide when foreclosures start, but only few properties end up being sold.

Keep in mind this might be spread out over 2 up to 7 years depending on your site selection and the economy.6.