If you do something that is too high end or bold compared to what is available in the neighborhood, the exit could be very difficult 

Here are the key numbers:Potential purchase price: Mid-$400k rangeAppraised value: Estimated at ~$500kRehabbed comparable properties (comps): ~$580-600kMonthly PITI (with 5% down, including mortgage insurance): ~$3400First-year PITI (with 2-1 buydown): ~$2900Monthly income (after taxes): ~4-5kLiving expenses (utilities, groceries, etc.): ~$1600Savings available: ~15-20% of the purchase priceCash to close: ~$34kRehab estimate: ~$34kRemaining reserves: ~$20-25kTo fully fund the rehab, I’d need to come up with an additional ~$15k in the short term, which I anticipate paying back quickly once the rental portion is generating income.

What are the comparables in your market doing at your expected price point?

Compare apples to apples(SQ FT, bed/bath, layout, etc). 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

I don't think Im paying my bookeepeer an outrageous amount, although with economies of scale (I have one commercial insurance plan, commerical portfolio loan from a single bank, one bank account, etc) it probably doesn't take the Bookeeper 3x to do my books compared to yours. 

Given your goals, Indy could be a great fit—affordable pricing, solid appreciation, and strong Section 8 demand with reliable property management options.

This is a beautiful house - rehabbed/looking new and fresh - walking distance to the water etc, yet low gross yield  compared to Byrd (???)

(Zero)  Would love to chat and compare notes to see how we could get better outcomes. 

Comparing just those two things, you would save way more money in the long run by avoiding the annual mortgage interest.