It is hard and will be a full time time job to do it right. 

This is why it's so important for owners to do a better job of screening PMCs than screening tenants!

If it's on your credit, you are on the hook for it.However, it shouldn't effect the loan process too much, a simple Letter Of Explanation should be able to get the job done with the correct investor. 

Great job for taking the leap.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

For example, if you buy a home for 100k, and then improve the property and now it is worth 200k. 

A written job offer detailing pay.

Knowing which subs go deer hunting , fishing , will or wont work weekends , which ones are tied up on longer jobs , etc .

I invested in Jacksonville, FL, because my old job would fly me there multiple times yearly.

Changing jobs!