I would caution against buying solely for appreciation, markets shift...and if you get caught in a bad downswing out here, $22500 is a lot of negative cashflow.

This may be bad, but I’m using State Farm our there.

Mike,In my limited experience with property managers the usual flat fee is around 10% of gross income so if you are basically hiring them as such that might not be a bad place to start.

How you found it, how you financed it, the good the bad and ugly, the outcome, etc?

We have a lot of people on here who've never really seen the bad side of cheap money monster.

If they were that bad you should have identified the issues while you were inspecting the property.  

I love the wholesaling business model, am a huge proponent of it (as you can probably tell), and like to stick up for people getting started in it that are newbies and are being bullied by the big bad agents and brokers on here. ;)

Making a possibly good investment become a bad investment.

We are planning on doing a major remodel this winter during the off-season as the house looks and shows fairly ok but it is not something I would want to spend more than a week in as it needs a remodel badly.

Senior guy or gal gets 20k plus and guy at bottom junior agent might get 8k or so.The listing brokerages tend to only push their inventory to sell whether good,mediocre, or bad deals.