In that scenario your investment could be at risk if you aren't able to make it cashflow after paying for all expenses including property management.As a former US Marine, active real estate investor, licensed CA agent and property manager I'm able to speak your language and can help you avoid extremely costly mistakes. 

I highly recommend installing Kwiset SmartKey locks that you can rekey yourself in seconds with a simple tool that's included with the lock.

I would suggest hiring someone who is non-biased; estimators are contracted by large firms, including GC's, all the time. hire a private claims adjuster.

@Alex Alvarez  In order to get a conventional loan and include commission income, it would have to be averaged over 2 years. 

There are more key members apart of this podcast family that I'm sure I'm missing and I thank you as well, this includes the BP community guest.

Rehab cost is $42,500 which includes all cosmetics plus a new open floor plan Kitchen, Bedroom, Pantry, and Laundry. 

Again the service provider delivers the bins.Although garbage service (which includes recycle service) is mandatory for all households in our municipality, yard debris service is optional. 

So if you make an inflated offer including closing costs and the property doesn't appraise, the deal has to be renegotiated if the buyer doesn't have the money to pay closing costs.You can also take a slightly higher interest rate in many cases and get a lender credit to cover closing costs (or a portion of costs).  

I do not accept couples renting their first property together, friends sharing rent, applicants from out of town, credit below 650, less than 2 years employment, pets.

My wife’s uncle rents a 2 br over a garage and it includes 1 bay of the garage for $4400 per month.