As soon as you bring on property management your cash flow on a financed property will drop by 1/3 (give or take).  

You'll find a ton of investors there looking for more contractors, property managers, other investors to do deals with, and more. 

A median single family home is $570,000A median townhome is $377,000A median condo is $312,000 (not a fan of these for investing purposes in our market, a whole other discussion)More quick stats:Homes went for asking price, on average this monthHomes sat about 20 days on marketSellers has 10 showings before going pendingThere are about 3,000 homes for sale, which is up 20% over this time last yearWhat I'm seeing is takes about 2-3 offers on average to get a property under contract (all depends on your aggression and strategy of course, location, etc)Overall, buyers have a lot more sway than the last few years.

My advice is to house hack the property that you end up purchasing.

And isn’t 10% normal for someone to manage a property?

Rents will need to increase to keep up with the increase in property tax, insurance, maintenance cost etc.

You cannot build a class D property.

Unfortunately, Figure told me the following:"Yes, we offer our HELOC product to primary, secondary and investment properties.

That brings up a host of questions:What if I don't like how they are managing the property? 

The cap rate will depend on the market the property is in.