Software changes are occurring all the time and so a lot of older posts could very have outdated info, surpassed with newer/better versions, newer products (hopefully!). 

If it is far away, then definitely hire out to a mange company so the property maintenance is somebody else's problem.Just focus on income production.  

Being in project mgmt. you have probably have great time mgmt. skills which will help out a lot.Hope this helps and thanks for reaching out-You have a colleague request on its way, It would be great to have you as a local resource.Please feel free to reach out with any additional Q’s.

It's just kind of knowing where the money comes from and what exactly is their product.

Andrew You have to factor things like:- vacancy- property management- repairs and maintenance- replacement reservesin addition to the usual PITIA (Principal, interest, taxes, insurance and assessment).

• Addition costs (additional bedroom, bathroom, etc.) per square foot?

Additional info: $5000 profit for me and selling to a flipper with a $20k minimum profit.

In addition, I am currently studying for my CPA and I am considering what area I plan to be a specialist in.

If you are wanting to add more properties, it probably makes sense to pay the regular payment and save additional cash for other opportunities.  

An all cash, no loan transaction).For this reason, I calculate both cash on cash vs. total yearly return on my out of pocket money (which includes the down payment).Also note that usually you pay the first month of the mortgage in addition to the down payment, plus the whole of the insurance and (some) taxes at closing.