In your case, having a local owners rep could certainly help but that will add additional costs.

Properties in this location may vary in age and upkeep, impacting maintenance costs and potential rental income.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

One key insight is that conventional mortgage bonds (mortgage-backed securities, or MBS) made up of government-sponsored enterprise (GSE)-backed mortgages are benchmarked with the United States 10-year Treasury bond, while MBS made up of non-QM mortgage loans (including the all-important ones for real estate investors, DSCR loans) are benchmarked with the United States five-year Treasury bond.

Any costs directly associated with building the basement apartment, such as separate entrances, kitchen installations, and bathroom fixtures, can be directly allocated to the rental portion. 

There can be big costs to join this group, but if you follow the system and need a lot of mentorship, it might be worth the investment.

A key component to cash flow will be loan terms..you could consider trying to incorporate a seller concession towards an interest rate buy down or costs to help improve cash on cash returns.

(I can't remember exactly to be honest, but we charge about what it costs us to run the background check.)I would definitely recommend doing that.

Furthermore, I will throw free highspeed internet, which I have lying around for my various security cameras (mainly for me so I can see if it snows or whatever).I manage it with my wife.

Protection from Nursing Home Costs: They also mentioned concerns about Uncle Sam taking my assets to cover nursing home costs.