When you pay all cash there is no 6 month title seasoning wat to get out 80% of the purchase price.You can also come in with a 60% mortgage and a 40% all cash and get a little bit better of a rate and be able to waive escrows if needed.

We could use it for 10 years and then would have to pay it back in the next 10 once that expires.

Most people might not have the ability to pay 5 to 6 figures a year for that.With Costar it is about residuals. 15 years in the business I do not like contracts and residuals.

Property manager ended up being the best solution for me. 10% seems very high, in Seattle I pay 5% plus a leasing fee every time they need to find a new tenant.

Maybe because I've kind of run into this issue with paying people in the past.  

As Dave ramsey recommends of not taking on a house mortgage thats more than 25% of your monthly take home pay.

I think it is great to network and gauge interest for when a deal comes but bring them something before you take money because if you take the money first it is idle and they are getting no returns while it is sitting there unless you can pay some return out of pocket which I am sure you aren't doing because you are using OPM. 

Since we are out of state, we need someone to observe the minor renovation progress.What would be the average daily rate for hiring a renovation project manager to check on the progress and ensure that contractors are doing their job properly?

Ultimately, it's about ensuring the property remains attractive to tenants and maintains its market value without pouring money into upgrades that won't pay off.

I see a lot of newer investors pay coaches tens of thousands of dollars, using debt, that stops them from actually investing!