You are the person that will make all the decisions that will dictate what the property will do, as long as it’s ethical!

When done properly sub 50k can be a superb acquisition, however location is alway paramount as it dictates rental rate.  

That will really dictate what you can do. 

State law prohibits the management company from disbursing that money to an owner and also dictates that the money must be kept in a separate escrow account.  

Why let the market dictate us?

your lease dictates when you can raise.

The market dictates the rent.

Getting the best tenants you possibly can is critical, because having to drop several thousand dollars every time you turn a unit takes all the fun (and profit) out of ownership.Rents are what the market dictates.

Many, many contractors go out of business because they can't price high enough to sustain a business.The important thing to remember is that, in most cases, the market dictates both cost and price... it's not that different from selling a house - you can only sell for what the market will bear.

There are big differences and will dictate where you should be investing.