I understand we live in a sellers market so it will be tough to find these people.

@Michael Lee my understanding is that this guy is way past house hacking, he wants to know if it is better to take advantage of favorable terms now or wait to purchase a home. 

My understanding is that if someone is going to manage properties for someone else in Rhode Island (i.e., where they are not the owner or one of the owners), then they must do so under a licensed real estate broker.

I also understand that the business structures of all of this are complicated, and we are going to consult a lawyer— I just want to understand it better myself when I talk with them.

not sure if I understand. 

@Aaron Klatt I believe anything you spend is just deducted from the total LOC and your payments are based on how much you're actually using similar to a HELOC but I could be completely wrong that's just my understanding of it from the limited information I remember reading.

I heard that self managing the rentals for a while helps build experience and truly understand what PM's face ,but I have no experience .I was hoping to use different services for the basic tenant management tasks ; I was wondering if anyone has any advice on the following:1>Rent collections - I am hoping there are services that can help me collect rent, call the tenant if late to remind them ,take some basic calls from them regarding rent collection .

So.....I know this is a broad spectrum question but what do I need to consider when working a deal with a real estate deal? 

I will also spend time finding out how to better understand this.Thank you for your time.

That may imply that there is more value in the property but I did comps as best I could from recent Zillow sales and I'd rather be conservative.I have seen @Brian Gibbons talk about lease options and lease option assignments and I mostly understand how the numbers work there.