Unfortunately there competitiveness in the market and cut throat antics give the other offices (company) a bad name. 

Since we will be investing remotely, we plan to work with a property management company to oversee day-to-day operations.Does this sound like a solid strategy for a first investment property?

My business partner and I just opened up our property managment company in the Chicago/Chicagoland area and it is not easy to do this the "right way".Honestly you can get yourself into some serious trouble if something happened with a tenant, an injury, anything and they sue and find out you don't have a license.

Any tips or companies where I can find one.Thanks, and have a wonderful day.RegardsRiz 

The insurance company will send you copy of the tenant declaration page proving coverage, and they will notify you if the tenant ever cancels the policy or allows it to lapse.HOW TO SHARE UTILITIES 101You have a property with two or more units and the utility meters are shared.

In my case, I have residential rentals in one LLC, commercial properties in another, self-storage in a third, and my real estate company operates in a fourth.

I’m currently working towards another rental property (duplex or larger) but I know I still need funds.

This means having to take a chance and take the property off the market for 2 weeksOption 2- Accept the offer with a provision that allows you to continue to market the property, knowing that there's a chance FHA may not fund the deal. 

My biggest road block right now is finding a PM company.

Many claim they do not charge a markup, but then aren't transparent with invoices, etc. 1) If a PMC charges $x hourly, their markup is built into that hourly rate as they are NOT paying their workers that hourly rate.2) Many PMC's send you ONLY their invoice, or from their wholly owned maintenance company, not the underlying invoices from Home Depot and contractors.