@Ehab HabibA lot of the Pennsylvania municipalities now require landlords living outside of a certain mile radius to hire a property manager.

I hence don't understand why it costs so much to hire a property manager.  

Inside that zone, there are virtually no 1% deals. 

I will be running the entire remodel, including pulling permits through my father's GC company, performing ALL carpentry work myself, and will be hiring subs on an as needed basis.4.)

You: then you’ll have to hire lawn service.These are not meant to be scripts, just examples of how important it is to get yourself in the habit of putting everything within their control, squarely back onto their plate... not yours. 

Virtually all REO purchases will be conveyed via Special although some are moving towards Deed Without Warranty which can be problematic in some states

So I’m still researching and reading about REI (currently reading The ABCs of Real Estate Investing) and I realized I don’t understand how hiring a lawyer or account works.What exactly would I be asking them for and how would I be charged for their services?

-Settlement Fee: $595-795 depending which title company you hire to close the transaction-Owner's Title Insurance Policy: Roughly 0.2-0.3% of the purchase price-Recording Fees and other Misc: Another couple hundred dollarsFees that will only be present if you are using a mortgage to purchase the property:-Origination Fee: Varies and is typically represented as a percentage of the loan amount-Lender's title insurance: Another roughly 0.2% of the loan amount-Appraisal: $500-650-Misc Junk Fees: Processing, credit report, flood cert, etc etc etc: A few hundred to a thousand dollars depending on the mortgage companyCosts that are not fees but still need to be settled at closing:-Prepaid interest (if there's a mortgage)-First year insurance premium-Impounds to set up tax and insurance escrow accounts (if there's a mortgage that escrows T&I): A few month's worth of each-Prorated taxes, water, sewer-Heating fuel remaining in tanksWelcome to New Hampshire, and happy investing,Troy

The first line of the Legislative Counsel's Digest includes the following: Existing law specifies that a hiring of residential real property, for a term not specified by the parties, is deemed to be renewed at the end of the term implied by law unless one of the parties gives written notice to the other of that party’s intention to terminate. 

The first line of the Legislative Counsel's Digest includes the following: Existing law specifies that a hiring of residential real property, for a term not specified by the parties, is deemed to be renewed at the end of the term implied by law unless one of the parties gives written notice to the other of that party’s intention to terminate.