When cycle gets tougher then those marginal agents sales dry up and they go back to that j-o-b especially since they did not save and spent all their money on trips, bigger houses, nicer cars,etc.Good LuckI hope you are one of the few that make it long term. 14 years in the business and still having record sales year after year.The best nugget of info I can give is constantly out learn your competition.

I've done some negotiation with the seller already and we've agreed on the broad terms of the deal.

If one tenant has been in there for that long, there will also be some serious capex and turnover costs.

The pocket thing seems nice as long as you could control who moves in and who does not move in. 

Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

It has taken me time and I am ok with building long term wealth vs spendable dollars today.

They don't charge a management fee as long as you buy a home from them every year.

I do outsource my Taxes, but I meant having a Real Estate Tax Accountant or a CPA who I chat with to help create me a long term strategy.

By trade I have been in occupational therapy for 10 years, but am willing to take a pay cut to really focus on what will make me the most successful investor I can be.