Not to mention the economic development steps the town is taking in ensuring the growth of town (roads, schools, zoning) stays on par with the future expected population growth and new jobs that are going to be a result of the new factories opening.  

There's no excuse.I've had renters pick up the keys, then call me 30 minutes later to say the bedrooms are smaller than they expected.

Trustin your PM partner is important and they will follow your lead, so don't expect them to provide you with your business plan. 

@Joe Norman Those were the big 3 I figured would help the most, but I think wasn't sure how much actual applicability they had as a business owner/investor.

In fact, it's a common and expected practice.What rule do you feel was violated?

This is something that I have really come to realize over the last couple of months as I've been learning.I came into this expecting it to be complicated, and I am not disappointed!

@Dwight HenningRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

I would make sure that in that scenario you're hitting your ROI expectations.

Expect to spend another ~$8K for that.If you are planning to close all-cash and bring enough cash with you for operating expenses and rehab, you are looking at a minimum capital raise of about $3M and that is for a cheap 32 unit.

How do you figure out who you can trust to handle your money?