I tried to create rapport with the owner over the phone but waited to present my real agenda only in person.   

Avoiding accessive PM fees (personally I recommend most people self-manage)These will eat away at your ROI.

Great for personal residence but not for scaling.  

So, things change a bit.If it is his personal home, there are more restrictions.For an investment property, if you take over his financing, read through the deed of trust (mortgage) and see how they handle transfer of ownership.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

I financed this property using down payment funds from 403B and a local commercial bank. 15% down from personal funds. 85% down from community commercial bank. 3yr balloon, 20yr amortization, 7% interest rate.

I am not a huge fan of them personally as they are PE investors and have a very, very narrow view of the industry and how it should be approached. 

However, you can get loans that are based on the performance of the rental and not your personal income and debt.

The other PM can be a fix-mindset type of person where they are not willing to share anything unless you have a property and are willing to sign a PM agreement in the same conversation. 

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