Based on the research I've done I was under the impression that the PM does run the show as you mentioned.

From running a cash flow calculator,  it shows me that $189,000 financed would be around the breakeven point. 

The buyer's agents work their asses off, running buyers around to look at dozens of homes, put in offers that may or may not get accepted, and so on.

If water is an issue you can set something up by running a hose from a neighbor to your main water supply that comes into the house if others have water.

Account Closed - so much of the question about tenants is going to be dependent on the class of property you are buying...Vacancies - I run about 7-8%City - if you have a code violation they give you plenty of opportunities to fix.

Next thing I knew we were off and running.

Any other good ways to start out I don't have built up capital and I'm working on fixing my credit to have more options in regards to that in the long run

Expenses long term will run 50% on a SFH, not today but definatly over the life of the property.

My weekly goals include 3-5 hours of continued development on my business plan to fine tune the tactical plans needed to implement my overall strategy, research my targeted markets, and run through "practice" investment scenarios.  

Anybody buying up old property out there right now is paying $300k+ for a run down shack that needs to be razed and build a McMansion/vacation rental in its place.