You need to know real estate principles, real estate law, and real estate finance.  

It should also be noted that this permit is transferable in a Real Estate Transaction, so as a buyer or seller it is always going to be important to make sure this permit is in place from this time moving forward!

I'm here to answer any questions you may have about real estate investment tax strategy!

From the podcast it sounds like a viable option for cashflow, but I have no real world experience of the area.

@Christopher TeagueRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Better to set it up as a more equal partnership with neither of you living there.For taxes, you MUST find a good, real-estate knowledgeable accountant and discuss the details with him.  

I live in the Johnstown area and have been investing in real estate within my hometown for the last 9 years. 

Hi Igor,I'm with Sunnon Property Management and we work with real estate investors that want to rent out their home and we also do all rehab work. 

I am a local real estate investor who runs data from public sources to try to find properties.

Real bummer.