But intend to keep your word to the seller by making their payments at all costs or selling the wrap for a high enough price to pay off the underlying. 

I wanted to ideally use a minimum credit score cut off for tenants since that's something I'm familiar with and know how to interpret, so I'm wondering if you all do the same and if so, what screening service do you use that gives you tenants' actual credit score?

Before wasting time looking for properties or spending a lot of time on projects, they should make sure they can get the financing because a) financing might not be available, b) they might not qualify or c) the cost of debt might be prohibitively right.Another mistake investors make is believe that they can apply a US strategy or financing model overseas.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

In theory this would hopefully reduce my monthly rent costs and my payments would go to the new 2nd property to build equity.

In general it's a passive way to own real estate as the tenant takes care of the headaches and cost of repairs in most situations. 

I hope to gain knowledge and experiences along the way (hopefully with more triumphs then mistakes if the knowledge was implemented correctly).

Hey Sean, I would first look at the cost of the loan.

Acquisition costs are low, so easier to generate good yields.  

Partner Driven was attracted to the Springdale Forrest Circle deal in Gainesville, GA, due to its potential for a high return on investment with minimal renovation costs.