The key is to start with a solid foundation—understanding the basics will set you up for long-term success.

I have had mixed success on the appeals. 

Also, explain how you'll share the acquisition costs, such as the down payment, renovation, and closing costs.Payment Responsibilities: Explain how to divide and pay for regular costs like mortgage, property taxes, insurance, homeowners association fees (if applicable), and upkeep expenses.Management and Maintenance: Agree on how property maintenance, repairs, and improvements will be handled, including decision-making processes, funding for these activities, and responsibilities for performing or managing the work.Single Decision Point: For example, I've seen situations where one person agreed to replace an appliance while another strongly opposed it.

Hey Clint, I see OOS investors have a lot of success when starting with duplexes and smaller SFHs, as they have less moving parts and demand from both investors and owner occupants.As to what market to choose.. 

Does any one have suggestions for property management companies they have had success with in the Richmond, VA area?

To me, that looks like a post to get business, but since you are new, I assume you don't really know the restrictions.To be successful on BP as an agent and advisor, you can't sell yourself and you have to have the background to help investors.

When we wholesale in Denver metro its usually 78-80% ARV, we would only go lower if it was a slightly riskier deal (no good comps, stigmatized area, layout that might not make sense, house will be listed in the winter).Having said that our flippers are still having success with those number because of how hot the Denver area is. 

IE monthly payments or interest accrued and paid at closing etc.So what I hear from you is you have a note.. but maybe NO security IE DT or mort. and its not performing at all.

If you're counting on wholesalers for success you're screwed. 

Memo 1982-51), where the taxpayer successfully argued against the property tax “assessed value” allocation.