You have no control over your own property if you allow a new property management company to choose your first tenant when you only have one property.Know the costs of every call, handyman, etc in advance.

Banks fight over giving loans to people with good credit.

Every system you try will have flaws or you'll salivate over a feature that shows up in other software.

I don't know what the property looks like but unless the bathrooms are really bad, you may want to spend your money on design/furnishing/amenities.

I have also noticed Manufactured and Modular homes have become very popular due to the current Florida market and over priced homes.I have had a big uptick in buyers reaching out for help on vacant lots and putting in a new Double or Triplewide Manufactured. 

Much better than spending the first 10 days of each month waiting for checks.I keep original loan docs in a fireproof safe and electronic copies on computer (each loan gets its own file). 

My brother and I (who both have history of doing multiple live-in flips over the years) recently consulted with an attorney, started an LLC, purchased the BP state-specific forms, and have purchased one single-family rental thus far and are closing on a second singe family property that will be a flip later this month.

Should I have this established before purchasing a property, or accumulate it over time after making a purchase?

You can pull out the principal you’ve put in them over the years tax free, just not the earnings.

Spend the $5K on the bathrooms.