Not sure how many PMCs you've had bad experiences with, but we'll take exception to:"Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health)".BP seems to have more threads about screening mistakes by DIY landlords as opposed to PMCs.Now, if you'd have mentioned Maintenance, you'd get no argument from me:) Even the PMC industry acknowledges maintenance as one of the biggest challenges.Rereading my post, I kinda see how I sounded negative toward PMs.  

Besides the financial liability, I would not want the mental trauma and anxiety of knowing a kid had died in my pool. 

@Ming HuangRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

So, if you don't know how to build financial models, there are some available that are pretty good online (adventures in CRE is a great resource).  

I was trying to see how well on the financial side and what I may need to make it more attractive to go those ways. 

Multifamily rentals are a great way to achieve financial freedom, and it sounds like you’re on the right path.My advice?

I'll let others chime in on their experiences, but from a motivational perspective, I think attending live events and getting the "conference high" is something that only happens through in-person connections and being in the same room with investors who are eagerly pursuing their real estate/financial goals. 

It could be as soon as next week that I'll be back in Austin, so I wanted to see the likelihood of doing a single flip, for the first year, and what this looks like financially over time as we increase.

Love your wife, but help her understand and see the financial benefits of sacrificing now for the comforts and freedoms that early sacrifices will make in the long term. 

They've been very underhanded and petty though, I do expect a court filing if we simply ignore.