As long as you do your due diligence and stay up to date on your property then having a property manager can be really beneficial.

Here are some recommendations for you:Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

Check the short term vacation rental options in the area- Extended Stay America, Airbnb, VRBO etc. and undercut them initially to ensure you can build reviews and a brand. 

Stay away from individuals who want to micromanage you.

There are good books here on BP, or you can try the Unofficial Guide To Real Estate Investing or Real Estate Investing for Dummies.

@Michael Plaks @Eamonn McElroyAs usual I browse BP for tax forums and am staying up later than I should.I think Pubs 527 & 535 are helpful here...When you refi a rental for a higher amount than the initial balance, the amount over the initial balance is not deductible.

It's mostly for commercial real estate but provides ample checklists and guides you through the whole process.

If you are staying with the current servicer odds are that they are already licensed in that state.

Keep your head up and stay as positive as you can.

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast