If you find one that does, expect to pay at least 15-20% management fees for handling all the extra headaches.

Paying 2.4% for total closing costs (which include title search, title insurance, all attorney doc prep and recording fees) seems very reasonable given the relatively low $ purchase price.

True value is as much as someone is willing to pay, correct?

You're not a proper investor until you ask yourself "Why did I think this was a good idea?"

Interesting book recommendation: Whack-A-Mole: The Price We Pay for Expecting Perfection by David Marx.

Learn smart funding plans like lease options, seller-backed loans, subject-to deals, and wraparound mortgages.Build your credit and financial profile by paying down debts, maintaining a good payment history, and demonstrating your investment knowledge.

Now you need to figure out how to find deals and pay for them.

Make sure you have good comps on similar properties because you'll be paying for appraisals, etc.  

I'm paying nearly 90k?

You also have to factor In your closing costs each time you refinance, and if the goal is to pay down your loan aggressively, you will be hitting reset each time you refinance.