His portfolio is also not 100% real estate, so it's due to a multitude of factors.

Think through your expenses and make sure you have them all covered (like WiFi, HOA fees, etc) and you should do well.

But you still have to factor in other maintenance costs, insurance, utilities, and repairs. 

There’s never a reason to pay any other upfront fee.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

We do not charge a fee or try to sell anything there.

Besides having to account for a property management company, are there any other major factors that come into play when investing outside your local market?

However, when you are calculating your expenses, don't forget to factor in estimates for maintenance, capital expenditures, and vacancies.

Hello BPShould I buy a property that generates negative monthly cashflow including vacancy reserves, management reserves, CapEx, and property management fee?

A close relationship with them might mean better prices, maintenance fees, and honest, favorable home assessments.Working with a realtor may mean that they could find the best deals possible and negotiate even better ones.