@Cory RayI was planning on trying to get some leads from cold calling 

If plan to invest out of state it'll be crucial to develop your core-4: https://www.biggerpockets.com/blog/core-four-real-estate-tea...Having a solid team around you will be fundamental to your success.

I’m conflicted if I need to use a CRM as an investor even though I plan on having a PM.

This will be really helpful come tax time especially if you have other properties or plan to buy more. 

From my question you would all guess I am a newbie at this.....here's my question, does the city actually sends somebody to inspect the property after receiving the license application or just issue the license if I go and apply for the same at the center city office.The property is being refurbished and plan to put it on the market for rent around Nov 1st.I appreciate your earliest reply.

Always understand your out plan before you get in.

P.s I don’t plan on selling anytime soon.

Just need some cosmetic repair of kitchen sink and bathroom sink to me) After phachase, we plan to furnish and do short term rental. 

I took out a $50,000 HELOC @ 8% Interest from my Primary residence in Colorado Springs, before I began to rent it out, I had no idea at the time my parents planned to move. 

I plan to use this home as a long term rental.