If you paid cash and put it in an LLC, it may be harder to refinance they way you want.

We strategically focus our multifamily investments in the Southeast region of the US for two key reasons:Lower Costs - Properties are less expensive to acquire in the Southeast than in other parts of the country.

You get a 30yr loan on a fixed rate, the debt is paid by the tenants, while you still cash flow.

It's no surprise there is a close to 90% annual fail rate in the industry. those other folks are getting paid to learn.. agents are on their own they are independent contractors cant have it both ways. :)

If someone charges 10% management fee but then nickel and dimes you for every light bulb they change that actually ends up being more expensive than if you pay 20%.A side note here...

They will now have permitted work without having paid permit fees for the work.  

If you are in fact referring to gross rents, then yes you can get gross rents well above that but after all expenses, includeing debt service, PM, maint, cap ex reserves etc, a good deal is about $100 - $200 a door in pure cashflow. 

Vacancy can be very expensive. 

I have paid/settled everything and have few credit cards and my fico is in the low to mid 600s.I have pretty decent income ($400K+) and am interested in starting off small.

It is much more important to get to know what a PM's experience is, how many years they have been managing properties, are they also an investor, what types of owners they work with, how many total units they manage, what their largest property is, what class of properties do they manage, how do they handle tenant communication, maintenance requests, expenses, do manage commercial or residential, and what type of software they use.Just some advise from a seasoned investor and property manager, The First Question That You Shouldn't Ask is, How much do you charge?