If you are new to investing we also need to spend some time somewhere, maybe 1hr to talk about your expectations and the realities of the market and see if there is correlation.Interestingly enough I think with the NAR lawsuit some expected commissions to go down. 

This is going to keep your bid honest, rather than lazier and keep your cash position stronger. 4) The only time you spend in this, is finding & closing on the quality assets and playing devil's advocates for repair/rehab/fixing costs.

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

It feels like the first week of the month, I spend chasing down payments to make sure all of my loans are paid, even though I have everything on autopay. 

@Jesse Streng Great that you want to invest in the Detroit area but I encourage you to come to the city and spend a weekend here to get a feel for the market.

With that said I feel like I significantly improved my position and reduced my stress..Being  high income earner is great, but the goal is what you keep and what you spend.

Nor does it pay well for an agent to spend a lot of time with a buyer that has an agency agreement but chooses to sit on their laurels instead of actively pursuing a purchase.Most agents who are serious about helping people do not have time to spend with lackadaisical clients or people who refuse to sign a buyer's agreement.

If you call that 10% of gross rents you will spend $116,000 a year on property management if you were earning $1,000/month/rental (about 1/3 of your gross profit on 97 rentals.)  

I don’t want to spend a month in a dump.  

You could also look into regional banks or credit unions with experience in real estate development for middle-ground options.If I were you, I’d spend some time shopping around for the best rate/terms.