If the area can support new construction, determine the best style, size, and type of new build for that area.3.

In addition, all Rent payments hereunder not made within five (5) days of the due date shall bear interest at the rate of one and one-half percent (1-1/2%) per month"The monthly rent is $1550 so the late fee is easy - I've set the account to charge 5% if the rent isn't received within the 10 days stated ($77.50).

My guess is that their mentors are similar, no barrier to entry, and no major organization or entity that holds them accountable for ethics. 

Acquisition people, asset managers, finance/accounting roles are all needed to run properties, even if the property management is outsourced.  

Maybe self-accountability does matter. 

My mortgage will be $2,005/month, and I’m budgeting up to $600/month for utilities, leaving a potential monthly cash flow of $995.I also set up an LLC and a business account to track rental income and expenses.Questions:Do you have any advice for me as a young real estate investor?

There will be a lot of things to take into account.

It took me 13 months to open a bank account in Belize.  

@Nicole GrazianoI recommend that you have a consultation with a real estate tax accountant regarding your taxes.Bigger Pockets is a great place to find a real estate tax accountant. 

Payments went to Realtors US account.