Keep learning and running the numbers—you're on the right track!

They might accept your same offer 30 days from now, so sit tight and keep checking in with me. 

Keep learning and determine your long term goals.

My goal is to buy one rental per year with price between 150k-250k for the next ten years (if i get to keep my job). 

We keep telling ourselves "this is the last one" then decide to do it again.

I'll keep thinking on these questions! 

The more they have to loose, the greater the likely-hood they will work to continue to keep the home.

Proper record-keeping of rental and personal use days is essential to avoid IRS scrutiny.

Basically - I want a PM who keeps the property in good shape and occupied to get paid, and a PM who is either bad at maintaining properties and finding good tenants, or just really unlucky, to not get paid.- PM charges 8% of rent, which escalates to 10% if the property exceeds 95% occupancy with rent collection. - PM charges minimal fees.- PM is contractually obligated to perform annual maintenance/inspection to keep property in top shape. - PM provides a cash based accounting report every month, for every unit under management, that clearly labels all rent, all expenses, including management fees, and the net directly ties to the amount of money deposited into my bank account.- PM is a licensed handyman, or has them on staff, and takes care of most unit turn work at a reasonable rate. - PM has no breakup/termination fee- PM does not take project management fees, except on large or complicated CapEx projects exceeding $5,000. 

I suggest 6 months of expenses to keep in cash.