If not, factor minimum 15% for management.Also, consider that you will pay taxes on all the income (after expenses).As others mentioned, research the competition in your area to learn the demand/restrictions.Depending on these answers, you may be better off doing this closer to home. 

I learned all of this from a now defunct group in Berwyn of old-school building owners.

If you would like learn more happy to discuss. 

I answered this with indicating that I would like to speak with someone to learn more about their program and what they had to offer.

I'm basically in the process of learning more about marketing and testing to see how much I can do by myself. 

Can we just not fill the paperwork since we just learned about this, and he also violated the lease?

If he is going to do it at all, it needs to be him learning (both the good and the bad).

Depending how much you earn you can step up those savings by getting a side-hustle in any part of real estate....working for a top Real Estate office on weeknights and weekends, working for an RE Investor, working for a General Contractor and learning a few skills, etc.

ACTUALLY (insert mansplaining guy here) Plenty of title companies provide pre-foreclosure data but you are gonna have to call a ton of companies and learn how to ask.

It seems like there’s lots of great information in BP community for us to learn from!