I'm a licenced Broker and I also handle project management for flippers, contractors, etc.FEMA 50% Rule: ALL of the homes that exist in a Flood Zone have a 50% limit on work that can be done to repair them without bringing them into compliance with current flood standards.

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

You can certainly ask the agent who helped you purchase the property for advice too ;)Since you are using a PM to run things, I don't see any need to meet anyone except your PM and the contractor/handyman you plan on using for repairs/updates.

Tenant screening often seems to get overlooked because landlords know the income is automatic, but the problem becomes the repairs and maintenance. 

As a side note, most of the properties I have been targeting were Neighborhood grade C which are quite old and one of my concerns is that I may need to spend a lot of money on repairs and maintenance.I feel that I would need to wait a little bit more and maybe save more for my down payment and try to target Neighborhoods grade B.I’m trying to do an FHA loan and buy a house in my local market but even when I’m targeting properties between < 600,000 (which would be a 2Bed, 2 Ba in a good condition), my monthly payment would be around 5,000 which is impossible to pay for me.So, it has not been easy and it won’t be but I’ll keep looking until I find one property that meets my requirements and helps me to achieve my goals.

But we already get deductions for maintenance, repairs, and improvements.

Then do no repairs and sell the property to investors paying off the property in 5 yr's.

For as much as attorney's charge, they should be able to answer this question.The deposit can be used for cleaning, repairs, and unpaid charges.

I did a lot of repairs myself but also hired a few skilled contractors for things like electrical work and plumbing.

First thing I noticed was the 4 testimonials online in videos never tell you what the deal was, Not how much offered, not how much repair, not what ARV, just a bunch of scripted, formatted empty gratitude.