However it is an investment that may require you to be more hands on to insure the decisions made affect your return in a positive way .  

Not trying to get into any debates about their position in the industry but its encouraging seeing your successes managing the process on your own.

Looking forward to my first deal or many and staying positive.

My last position in property management was a property manager which I absolutely loved.It was a hard decision to leave property management but I felt a tug for greater in my life and career.

Ultimately you may chose to spend the maint cashflow another way and plan to use a LOC to handle issues but that expense should be counted when figuring out if the property is cashflow positive or not.

They do not have to be a licensed agent to be in this position and collect a bonus from me do they? 

It also puts you in a very strong defensive investing position right now in a rapidly maturing market. 

I found another PM with positive feedback.  

Our goal is passive, positive cash flow.

My thought is that if we're paying cash and it has positive cash flow, then who cares, but I'd love to know what you longer-term investors have to say about it.Now more specifically about this property..2.