I just happend to be inconversation with her about establishing an unsecured line of credit when she mentioned a problem property that the bank had just taken back. 

I wound up being highly knowledgeable but having to "pay dues" to other experienced people already established in the industry.

Interpolation can be used to check our answers, or establish a range for the answers.Example:  If a seller says we have a $140k mortgage and need to walk away with $50k after the sale-so how much do we need to sell it for, considering your commission and closing costs?

Specifically, I would set a rental price at market and then offer a discount to specific types of establishments.  

Maybe as @Charles Worth said, the value is really more for newer investors as opposed to established folks who have been there and done that.

But hold your horses and seek advise and wisdom from those who have already done it and survived or actually profited.You definitely want to work with well established, and recommended contractors.

This is my beginning strategy and if all goes well will eventually work my way back into multi family once I am established.1.

If my state of residence charged over $800 just to establish an LLC, I would seriously consider going with the state the property is in.

I NEVER rent to someone who is not currently in an established rental situation that can be checked up on , visited and verified (meaning "local" , not living at home, or staying with a friend, or just in from out of town....)  

Why not get a job working for an established property manager to find out if it's something you want to do before opening your own business?