The FMR for a 6 BR house is over $1,800....one person's trash is another person's treasure!

Great for personal residence but not for scaling.  

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

I personally am interested in creating a long-term rental portfolio but I'd be interested in hearing any strategy, ie. house flipping, short term rentals etc.

I spent many years managing myself and personally collecting rent checks. 

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.

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

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.