The addition includes a large bedroom, bathroom, and walk in closet.

With proper property management, it's not an issue being out of state.You can work with a turnkey company or directly with builders that offer the same services for your first property.

I may make an offer on a property that's been sitting for over 80 days.

And perhaps in that case, I am thinking to offer them cash for keys to vacate the property (After the property is vacated and condition of the property is verified) rather than hoping that this will get any better. 

Rule of thumb for newbies: if HML won't finance it don't offer it to investors. 

Wanted $299 and I offered $250.

For example, Garrett Planning Network advisors offer financial planning on an hourly basis.

Appreciate the quick reply and kind offer

This is how my parents rented for decades when we lost our first house after my father became sick, giving us an education beyond our house buying ability.The houses in these areas always multiple offers and the financing I have set up requires a seller concession of 2%.

Then offer that rate to the current tenant with the PM’s lease to get out of any errors in the old lease.if they move out fix it up, take pix, advertise, and move on.