Doing it on some online website.

I love the fact that online acquaintances often translate into real frienships. 

With out all the competition in the metro area, Absentee Owners could be a pretty good bet since you won't run into as many investors mailing to them. 

I took photos of the place and put the pictures up online as it was ready to rent it out.

I'd be a little more worried about the 2.7x rent.  3-3.5x rent is the safer bet.  4 dependents on one salary is also a big red flag. 

I think there are some online banks that have nice returns but for me I’m not really trying to have a savings account generating interest at a bank but rather in real estate and the money in the bank is only a temporary holding spot

I’ve read horror stories online but also know there are some really great property managers out there.

If you didn't over-pay for the house and he didn't charge you closing fees I'd just adhere to w.e he says....Your best bet is to post on Avvo and see what the lawyers say (its free).

The guarantor requirements are:1. good credit (700 and above)2. proof of income (min 72 x monthly rent: $144k/y on a $2k/month apt)I often clearly state these criteria on the apt ad online, and I pre-screen applicants on the phone.

I bet the big ones go every month.