Based on the research I've done I was under the impression that the PM does run the show as you mentioned.

I have been performing a mixture of both sales and limited property management in 2017.About 13 months ago : I was property managing about 35 – 38 doorsNow I’m down to about 16 doors.Property mgmt doors decrease has allowed me more time for my own personal improvements.( More sleep , less time in the automotive shops for vehicles repairs )

From running a cash flow calculator,  it shows me that $189,000 financed would be around the breakeven point. 

The buyer's agents work their asses off, running buyers around to look at dozens of homes, put in offers that may or may not get accepted, and so on.

If water is an issue you can set something up by running a hose from a neighbor to your main water supply that comes into the house if others have water.

If so, thoughts on what vehicle to use to do so, will be appreciated.  

Account Closed - so much of the question about tenants is going to be dependent on the class of property you are buying...Vacancies - I run about 7-8%City - if you have a code violation they give you plenty of opportunities to fix.

Next thing I knew we were off and running.

Any other good ways to start out I don't have built up capital and I'm working on fixing my credit to have more options in regards to that in the long run

Expenses long term will run 50% on a SFH, not today but definatly over the life of the property.