The key is aligning yourself with an effective program that accomplishes the objectives you outlined -- $4800 is more than worth it if it delivers. 

Honestly I think property management is a difficult piece and many times the way they are incentivized doesn't really align with rental property owner's objectives.

In Cleveland just be careful what neighborhoods you buy in and make sure it really aligns with your goals.

Make a list and then look for one that aligns with your goals. 

I've been looking at condos recently, and between high asking prices, high association fees, and often spotty unit condition, it's difficult to get the proforma rent to align with what the market is actually willing to pay and still make the oftmentioned target monthly cash flow of $200.

Making sure this value is above 1.25 will allow you to eventually work with portfolio lenders, but it will also help you align other criteria as well.

This way rent can be raised at a reasonable amount every year.You can make this happen just make sure you align yourself with someone who knows what they're doing and has the experience to help you move forward with more loans in the future.

@Omar Merced  My recent experiences on BP  tell me that trying to align with lenders on this website is very difficult as there are so many scammers on this site its not funny.I had a lady call me last week and wanted to verify I had borrowed money from some lender in Texas.. 

Here is solid blog that outlines questions to ask a property management company: https://www.biggerpockets.com/renewsblog/2015/10/3...From my own experience, one of the biggest things is to make sure their bread-n-butter aligns with your properties - meaning if you have SFH and duplexes, you probably shouldn't pick a company that specializes in 8+ units, even if they look awesome. 

Or find a market that aligns with your current cash position.Remember, If you find a good deal that perfoms well, your DTI should actually improve.