and hire most of the monotonous labor intensive things out. 

It's a more labor intensive process and prone to error (some things will break sooner) but you'll get a better idea if that specific property can "self support".  

@Seedo DvonGot you, that’s pretty intense!

That'll start my intensive house hunting phase and I'm going to need all the help I can get once I'm there.Do you think this approach that I am taking is the right way to do things?

I started my career in 2012 after retiring from European Professional Basketball. 

It is government subsidized, which means it will be management and paperwork intensive - especially after this disaster.

Yes, it make so much more sense than going through a cumbersome and time-intensive short sale with no guarantees, but then "sense" and "bank" don't mix.

Gotta like the intensity!

I know investors with SFR in really nice areas paying 7 to 8% as not much is required.I also know investors who buy in C to D areas where much,much more headache is required and it almost like babysitting children to get the money.Property management will charge in the double digits to take on that kind of intensive problem on a daily basis.It is really hard to find a good property manager.They simply do not make squat for the headache involved and it's low income work.As a commercial broker and an investor I want the best life for myself and the most income which does not involve PM work which is why I do only sales and then my own investments.It takes a certain type of individual who wants that kind of brain damage for a low fee.The problem with a local agent is they work well with your property but then when a regular sale comes along will start to let it slip.This is why I like companies that only do PM work and have systems in place to control costs and have an undivided interest.Sure some do have profit centers etc. built in or want to sell it for you later but you have to look at what type of scenario with what manager and rate works for you.At some point having all these little houses all over the place and different properties you will run into economies of scale issues.Keeping track of different PM's and companies etc.This person might be fine as a one man band at 3 properties but when it gets bigger things might start to fall apart.I like apartment buildings because of scale and owning one development and not subjected to other houses on the street with the type of tenants they put in.It seems like you need to develop a game plan.I wouldn't be concerned as much about what I am paying but what I am getting for that payment.

I recently left my Account Manager position at a local advertising agency so that we could focus more attention on building a strong foundation within the real estate industry.Having read Rich Dad, Poor Dad, our eagerness to immerse ourselves in real estate has become even more intense.