My wife is actually an account exec for a Development Lender up to $20M and my company lends up to $3M.

And the real estate is it's own holding company. 

Should I hire a local PM company for long term to manage the property?

Hello Bigger Pockets Family, I’m looking to invest in real estate as well as start my own property management company I have my LLC already .

The property was sold for 70k two months ago and the Turnkey company did approx 40k renovations on it and selling it for 140k-150k now. 

This is determined by the location, the tenant segment you target and the companies they work for.In the rest of this post, I will explain how to select the investment location, tenant segment, and property, as well as the information needed and the sources.Selecting an Investment Location or CityThe investment location is your most crucial investment decision, not the property itself.

Did you hire a management company?

I called restoration company and they assured to reach within 2 hrs.

Not every state requires it so they may not have one thats not a deal killer but if they are go to NMLS public look up very easy  you can see history of the company and loan agents.4.

This is screwing my DTI when trying to purchase a new home as my homestead because all the debt is in my personal report but only 20% revenue.Is there something I can do to change this?