I do believe real estate is one of the safest investments when managed with care. 

We use trust accounting software with Streamline, but that is more important for Property Managers. 

Hi, I am closing on my first property and would like to connect with local lenders, property managers, handymen/trades, and other investors.

He would be responsible for budgeting and managing the renovation entirely.

We tried to get info on the lender to ask directly but they wouldn't give it to us.I would have thought this would be a relatively quick process to do a credit check, check debt to income, employer verification, etc.current loan's interest rate is very low so they definitely haven't refinanced anytime recently.Additionally, having never assumed a loan before, anything I should keep an eye out for that might cause a hiccup? 

One recommendation is find a good property manager, he will be an important key player

PLUS expenses (maintenance = 10%, repairs = 10%, management = 12%), PLUS the business loan = around $393. 

My firm also manages properties for our clients and although its a small portion of our business, its a great way for us to stay involved with clients to better understand & anticipate their needs. 

Examples where this has been done successfully include bed and breakfasts, self storage properties needing 24 hour management presence  with living quarters. 

The location is not one of the good areas (64130) so it is relatively cheap.