@Drew Stuhrenberg Hey Drew, I was referred to a realtor in Des Moines just last week and spoke to her about rentals since I’m in the market for the same thing.

Saved your story for future reference!

In tenant friendly jurisdictions like Chicago, they target mom/pop owners who don't know the laws to statutorily screw them - The landlord can either pay the tenant $1k to settle and give them 60 days to move out along with a good reference, or they can pay $3k + $8k legal fees for a simple error.

If you're itching to start out, I might suggest starting with something more passive to get your the portfolio started, while you learn the ropes for something more DIY / hands-on (just assuming that's what you want, given your reference to management skill).

Would very much appreciate any direction or references to an agent specializing in multi-family or an owner looking to sell their property in the area.Thanks!

Agreed, I would much rather self manage initially, but not being local I don't have much choice. 

Bottom line is I don't often start new threads to ask these questions...therefore the number of posts I make goes down.Furthermore, when it comes to answering questions...I like providing people with references and resources more times than not rather than just my opinion.

OR tell him the property is already sold, and maybe just structure the whole thing as if he has no choice really, it's all just "After-the-fact" Stuff...?

If things are tight, renting is always a safe choice $$-wise, because of the price of flexibility.Your plan doesn't sound bad- but there is no best plan for everyone.

Good Morning BP, I am currently helping my out of state investor manage his properties.  I handle the maintenance and most decisions regarding his properties, we do have a property management company handling the rent...