Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

There are great deals that pop up when it is only cash involved.

Personally, I would absolutely pay for a home inspection and I would think an appraisal is necessary for the home if there is a stepped up basis involved.

You need humans involved in the equation to get the more accurate picture.3) The book talks about buying a property for 20% discount, and by adding 5% it should appreciate by 10% in 1 yr.

I sit on a board which is actively involved in litigation against a property owner who is running an AirBnB in a community which expressly forbids it. 

There are three kids involved and you feel you need lots of space.

We are restorers and this was original untouched woodwork in a 90 year old house.We are of course furious; she is non repentant but willing to try to fix it before she moves out.That's the last thing we want as the best options for restoring it will involve using a heat gun.Can I charge her for this?

I feel like you can have both, peace of mind when you come home and income generating property but there is usually delayed gratification involved.  

For 10+ years, I have been involved in commercial real estate business on the construction management and leasing side.

If you don't have a primary residence then you can start small (2 -4 units)or go big(5+) for a house hack- whatever you're comfortable with as long as you're thorough running the numbers and familiar with investing process and what's involved.