They are your eyes, best not to skimp on it.

Don’t skimp on sleep.

@Eric Berkner every property has a unique amount of "hands-on" management it may require.Forget what is in the OM and budget based on what will be required to execute your business plan.Class C properties may need more daily supervision and Class A properties require more prompt and high-quality customer service.A good property manager can make or break the deal so don't skimp on that front.

If you decide to go the 3rd party PM route, then I would recommend not skimping on payment.

My rehab cost might be a little high because this is my first and I haven't established a good relationship with a contractor yet.I could skimp out on some aspects of the rehab, essentially "polish a turd", but I don't want the headaches of a property with constant maintenance issues, nor the tenants that would be attracted to that type of property. 

I like the private because I can have the money I want for rehab and not skimp on it.

Don't skimp here, you might rely on the paperwork later to get your money back.6.

I wouldn't skimp on this unless you have an inexpensive place.

A smallish starter house where you can add a family room playroom can be a real advantage in a market where a young couple needs the space...make sure you don't skimp on vapor barriers

My advice is don’t skimp get the inspections, check references, find the best inspector you can they can be worth their weight in gold.