Great idea though!

It's a good idea but it's like anything else in a lease - you have to be prepared to evict if they don't carry/keep it.

Does this sound like a good idea?

There isn't a magic bullet, and I didn't reveal any new shocking ideas here. 

Your idea of clean may be entirely different from the property manager's standards.Talk to them and get the facts.

When they finally take action, they hit a roadblock (they need to put down more $ than they had originally planned, or they don't actually love the idea of self managing) then they get shiny object syndrome, bouncing around to different strategies until they hit a wall and give up.

Investing in a bordering city is a good idea because of that if you can find a deal where the numbers will work for you.

The thing that makes me laugh the most is the idea that home prices will modulate.

Hamp I would love to talk more I have a few ideas and would love your input seeing that you're local

If the numbers don't align well locally, consider exploring other markets - dive into out of state investing.Starting with a turnkey cash flow rental is a good idea when investing out of state.