On the front end of investing I strongly recommend having a separate bank account and not comingling rental funds/expenses and personal funds/transactions.

The way to minimize that risk is to make repairs as quickly as possible (but only for properties containing a residential structure) to make redemption too expensive.

I was told by the Trustee, I could finance the condo instead of buying it with all cash.However, since this is auction property and doesn't allow someone to do inspection from inside most of the lender are suggesting that get a hard money loan instead of conventional investment loan.hard money loans are expensive (12% to 13% + origination fees).Does anyone has done this before with conventional investment loan where you don't do the inside appraisal.or any recommendations for lender who can help achieve this?

If your PM is out renting your unit or cordianting turn over or make ready they need to be given some time to respond.. and most now have pretty robust on line systems that owners can just pop on line and see expenses etc.. and probably notes that PM leaves in the system. 

They can get you covered with specialized STR insurance.They are a bit more expensive but very comprehensive.Don't forget to get the wind quote as well.

what are all the expenses? 

So im trying to figure out based on my situation what is the best move for long-term financial sucess.Now the rental is bringing in $800 net cash flow monthly, after all expenses are paid.

Same as Collective Mastermind with Ken Mcelroy, Jason Hartman, and George Gammon....cuz that one is wicked expensive, but I'm strongly considering it. 

Quick list, pros- low vacancy rates, high rents, moderate/high home appreciation, high rents increases, demand is always there as people move/commute from NYC; cons- very competitive, pro tenant laws, high property taxes, some towns have rent control, high barrier to entry with expensive multifamily prices. 

We finally found an excellent broker, he's not the cheapest but not the most expensive, but he is very responsive and is always looking for ways to save money.