The other direction that I did with the attorney not only cost me $5000 or more, but the tenant promptly filed for bankruptcy, so there was nothing to be recovered.

- Expertise & Track Record: experienced team with a proven history of success- Market Knowledge & Network: local market expertise and strong industry connections- Financial Strength & Flexibility: access to capital and flexible investment structures- Operational Efficiency: effective asset management and cost control through vertically integrated property management and leveraging economies of scale- Innovative Strategies: value-add projects, portfolio diversification, distressed funds, niche markets, etc.- Technology: use of data analytics that can lead to more informed investment decisions, and integrating innovative technologies to improve operational efficiencies as well as improving tenant & investor experience- Strong Investor Relations: consistent, ongoing and transparent communication and educational opportunities for investors, including a peek behind the curtains inviting them to the office for events and internal investment committee meetings- Customer-Centric Services: customized solutions to meet specific needs and interests of various investors and full-service offerings from brokerage, property management, leasing, to funds/syndication opportunitiesWhat else did I miss?

I am thinking of just getting a first-time home buys loan at the low 3.5% to 5% down and just living in it for 12 months then renting it out.

It's the labor details that cost you, NOT the materials. 

I assume the proceeds of the sale would go to pay back the tax certificate holder for back taxes, interest and court costs and then the overage would be split up by the heirs ?

Size makes a big difference in cost.

I asked for a $5,000 concession & used my realtor commission of 3% to cover closing costs.

Upgrading is an owner cost.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Looking out for suggestions @Kaushik SarkarIf the equity in your properties is your only source for new investing, and the new property you are buying still cash-flow's with the cost of your borrowed money (from your properties), there is no reason to not use it as an investment vehicle.