What service have you found to be most cost effective?

Im seeing very little in the way of cash flow properties but wanted to seewhat you all though about my inputs.Im making a few assumptions mainly looking at multifamily up to 4 units with 10% down (I know this is low but I've found banks that'll do that in my market for properties under 500k) then I account for maintenance/debt servicing from past experience (wondering if people have a better way that would take into account property age and condition for maintenance estimates), finally I set vacancy at 1 month a year (not sure if that is reasonable either). 

Having umbrella insurance or having an LLC for your property management services is a great business model to protect yourself.

Well here are few that I can think of:- You are an Accountant - who views the reports once a year to do taxes (That is it)- You are a Bookkeeper - you want to do the data entry because it does not make you money- You are a DIY QuickBooks user - who will surf the internet and YouTube for answers and not have the full process, procedure, and solution- You are a CFO - review your financials every day or week, depending on your business goalsNow let's get into the nitty-gritty:- You as a business owner should look at your reports by each property and unit- You should compare your Profit and Loss by:----- Month----- Quarter----- Year----- Previous Year Comparison----- By % of your Income ----- and the list goes onNow about your Equity - view your Balance Sheet and see the difference from previous year how much money you paid and received by improvements and loan, the personal money you invested and more...If you are looking at keeping the books for tax purposes and IRS, as well as use paper and pencil.

Breadth of knowledge and expertise in all areas of real estate investing (buy & hold, fix & flip, as well as usual realty services). 

This might be me overthinking and not knowing but I do not have a mentor just the books I read and the information on the internet.

Other things you need to factor in: utilities like satellite TV/internet (which, since the house probably doesn't have access to cable, internet can be An Issue), and will the HOAs allow short-term rentals?  

Somewhere, somebody is going to need to be paid for a service.

And services have been cut to the bone.At some point we likely see bankruptcy (as predicted by the bonds), but even if we dont, its fair to say Illinois is not a growth state, and that costs for fees, and property taxes are likely headed up.So declining population, radical tenant friendly laws and high government costs all point to me as a place I would not want to invest.

Oh, and thanks for your service.