How did you find someone to oversee the set up and also be your boots on the ground as needed for emergencies once the rental is ready?

My ideal is to have a system or a standard in place to maintain discipline about procedures.

If you aren't close to the property having a solid “what if” emergency person helps.

In an event of emergency that in order to make your guests happy you might have to take care of things out of your pocket but make sure the landlord is agreed to reimburse you as long as the cost you incurred fall within a reasonable market rate. 3.

You may need to safeguard the collateral, make emergency repairs, pay for legal notices and filings.

I have also asked them for a procedure on how to pull out the investment I have with them. 

Also, you do not know how to answer all of the questions that the PM can answer - polices, procedures, how to pay, etc.

If you don’t like to read, listen or educate yourself than unfortunately you will likely not find much success (although I am sure there are those out there that have succeeded without).Rich Dad Poor Dad, Millionaire Real Estate Investor, Multi- Family Millions (Dave Lindahl), ABC’s of Real Estate Investing, The Book on Rental Property Investing, Hold, The Advanced Guide to Real Estate Investing, The Due Diligence Handbook for Commercial Real Estate, Millionaire Real Estate Agent, The Book on Managing Rental Properties (Brandon Turner), The Emyth RevistitedCrushing It in Apartments and Commercial Real Estate, Emerging Real Estate Markets ,The ABC’s of Property Management, Wheelbarrow Profits, The One Thing, Outliers, Start with Why, David and Goliath, Chasing Excellence, Extreme Ownership, The Compound Effect, The Entrepreneur Roller Coaster, Be Obsessed or Be Average, The 10x Rule, The Obstacle is the Way, Ego is the Enemy, Am I Being Too Subtle, 48 Laws of Power, Atlas Shrugged, Man’s Search For Meaning, Sapiens, Tools of Titans, Four Hour Work Week.Step 2 (financing): To get a better idea of what I was capable of purchasing, I met with four different lenders and began a relationship to acquire funding.

I would review your PM agreement you signed to see all the terms and conditions you agreed to and how the money flows and if you are required to have an account with them with a min dollar amount for emergency repairs (usually $500-1000).

I definitely don't think that this is the case of an emerging city that will experience a boom in a near future, but who knows. 2.