However, our current hard money lender only funds one loan at a time, limiting our ability to take on multiple deals simultaneously. 

Looks like no one hopped on this thread so I figured I'd answer.

However demand is very high, especially for section 8 which also doesn't pay very well because government funding is one of the lowest for Puerto Rico.

The biggest mistake I see out of state investors make is relying on others too much for direction and guidance instead of doing their own due diligence and building their own team that they actually meet and interviewRelying on one person who alleges that they have a 'team' built already that you can use as well can be a costly mistake.

Kicker being you have to wait one year before repeating the process once you pay it back. 

They will know market data and trends better, have reliable comps to base their recommendations on, and could even be a great deal flow with current portfolio properties selling.The completely remote, centralized PM function is one of the reasons why you see the homes owned by PE firms sit on the market so long.

You're one step ahead of most of those starting off, and that's by identifying what you're wanting to start with.

For running numbers have your realtor if he invests run through it with you or use one of the free investor calculators on BP. 

I went and saw this one when it was listed!

What’s the one thing you wish you’d known when you started out?