As such, the carrying costs need to be considered.This is why it is critical to have a good grasp of the local market.

I think too many times people try to do things themselves to save money or cut corners when they should just hire a professional and focus on their operations and things they do well or that are critical to generating revenue.  

I'm not criticizing - I have no way of knowing.

If you are active with your investing, having access to the MLS is critical. 

There are many reasons for my belief but some are It leverages your local knowledge baseYou can be your own PM saving money that is critical when starting out.You can do some of the tasks yourself saving money.You do not need to build a remote trusted team, instead build the local trusted team where it is easier to provide oversight.You can house hack if you choose.Good luck

Mapping this out with the right loan officer (who understands all the angles that matter to real estate investors) before you get started is absolutely critical to your success. 

In addition, it's critical that you understand the neighborhood where you are investing.

Thanks for any constructive criticism… always ready to learn. 

So, this need to see a profit hinders the management company's ability to do what has to be done to get the best tenants and it limits the management company's ability to do a job maintaining the property as well as many investors would do when they are hands-on.The most critical factor for investing is the math.

Two critical questions:  What is the opportunity cost of managing your properties versus generating revenue somewhere else.