.- To utilize the Mills Act requires a few things: An application (not free), inspections, and most importantly a contract with the city in which you promise to rehab and maintain the historic nature of the property.- The inspections are only 5 years, but tenants are not likely to take care of them home as well as you, and refurbishing hardwood, lath and plaster, and anything else is going to be much more expensive than the typical Landlord special (white paint, and grey LVP)It will all come down to making your numbers work.

Your biggest challanges:1) Figuring out how to advertise on Zillow2) Handling all the calls3) Scheduling showings - and getting stood up4) Finding a rental application to use - you can use Zillow's or easily Google for one.5) Figuring out how to screen applicants ***** This is IMPORTANT!

I think the most important thing in investing is screening and management.

Additionally, interest-bearing accounts may be mandated in certain jurisdictions, so it's important to check local regulations to ensure you're handling deposits correctly.

The most important ingredient in real estate is TIME. 

Hello @Melissa Sejour,Choosing an investment city is the most important decision you will make, so you are wise to carefully consider your options.Where you invest depends on your goals.

Credit Rating/Bank Statements/Tax Returns: Specify your requirements, if important to you.Purchase Criterion: How do you define a good deal, which will be profitable for your borrower and safe for you?

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Being top of mind is very important!

Vetting the operator or borrower is very important.