Hi BP,I've heard too many horror stories on property management companies that are not doing their job properly (i.e. do not provide best advice on hazards, termites, do not try to save money when it comes to minor and major fixes around the house and in general do not act as the owner proxy and serve his best interest).From one hand, for 10% (especially on low income neighborhoods) I realize (but not understand) that I can not expect property manager to take care of my house as its own.

We simple use a home warranty (2-10 or American Home Shield), which is ~$80/mo and offers services for most issues that renters have.  

We learned this lesson early on and ended up modifying a handful of our first loans after foolishly accepting advice from a real estate attorney who did not know his butt from a hole in the ground regarding lending.

Simple.

In the time since I first joined biggerpockets,  we've launched a roofing company that's being franchised nationally, a toxicology lab, a scrubs company with Patch Adams' foundation, and a handful of other ventures - but investing in real estate I feel like a permanent neophyte!

Not only do you need the Authorization To Release information for the bank to even talk to you, most banks will Not entertain a short sale once title has changed hands from the borrower.  

(Total toilets are 5, showers 2, bath tubs 2 and 1 large vanity, 2 small vanity and a simple sink.)We want to create an opening in a non load bearing wall.  

The pros that come on the podcasts have a simple formula that works and they execute it efficiently.

Rural street with massive lots already has handful of remodels with some listing close to $1M ARV.From BP flip calculator:$900,000.00 After Repair Value ($460,000 List Price $200,000.00 Rehab Budget $150,000.00 Profit Estimated Repairs Total: $200,000.00Could use input on overall deal, as well as typical $cost/ft to add a second floor to bring total to roughly 3,000 sq ft. with a 2nd floor master and bath, perhaps an office or extra BR upstairs as well.

Yes it's that simple!