You can do this without bankruptcy and if you continue those new habits you can move on to buying an investment.

What I would tell you is that as we built our portfolio we continued working our full time corporate (cubicle) jobs until we had 20 units (self-managing them along the way).

From my own personal experience and from others I think most reach the "tipping point" from self managing to using a PM somewhere between 5-15  units, especially if you have a W2 and want to continue to scale. 

As you discover opportunities, continue looking for the longer play!

Personally, if your market tends toward the former condition (better/normal appreciation) I think it's a fairly safe deal looking at the long term, assuming infrastructure around you continues to support the idea of renting it.

Seems like a very strict penalty if this is not followed through.The CTA provides that willfully reporting or attempting to report false or fraudulent beneficial ownership, or willfully failing to report or make updates to the reported data shall be punished with a civil penalty of up to $500/day while the violation continues (up to $10,000) and a criminal penalty of up to two years in prison. 

Will we see home prices continue to beat year-over-year values yet again!?!?

I have been with a property management company for 2-3 years in Arizona and the property is being run continuously at a loss.

Although I don't have much experience in this field yet, I am passionate about real estate and hope to continuously learn and grow in this industry.

With that, I'll continue to use them as my PM.