After my taxes and penalties, I "lost" about $145,000. 

Make sure you’re working with a team that has a good reputation and understands the market.3.

However, it adds up quickly if you analyze the cost of turning the unit, marketing, vacancy loss, and your team's time to find a new tenant.

Scenario 1 they don’t or refuse to move- eviction costs and/or lost rent Scenario 2 they move out and Cap ex and turnover costs, lost rent, advertising for new tenants in a somewhat of a qualified tenant shortage, headaches can be avoided by simply having a conversation with the tenant to see where their head is at, and that they understand what your expectations are.

Next time it snows drive around looking for snow removal teams and reach out to them for pricing?

.: Quote from @Jesse Dominguez-Castelan: Paul, as licensed agents my team and I do our best to find out as much information from the seller as possible so that we can provide you with what we hope is a complete picture of the property.

I am also looking for rent redi alternatives, I have used rent readi since April and it's been constant problems and lack of response from their support team.

Hi Mike-Congratulations on being a first time investor and you are wondering when to start using a property manager.The property manager is probably the most important person on you team.

Focus on smaller single-family homes, condos with low HOA fees, or multi-family properties in these regions, and build a reliable local team of agents, property managers, and other professionals to ensure a smooth investing experience.

@Mark Forest the comments above that you’ve lost, or will lose, all or a significant portion of your investment may or may not be true.