If the plan is to have a covered land play then the high asking price is nbd, but as a MHP, this seem over valued.

In the past weeks I've seen enough deals to cover about 1,200 doors. 

My question is this: Should I secure a property management company to cover the land lording duties on my first couple of deals. 

Value with Garage To You = Market Value of Garage + Market Value of Smaller PropertyConverted Value To You = Market Value of Larger Property - Market Value of Garage - Cost to Convert Garage (including the time value of money)If converting does not increase the value of the property more than not doing it then there's your downside, too much time spent doing something not valuable.If it is still worth doing and if the comps call for covered parking, maybe you can add a nice carport cheaply in a way that doesn't cheapen the fresh new house.

Property management firms will have their lawyers write up their lease template, but they also deal with thousands of tenants over the years.Assuming this is a normal rental, you should be covered by going to an online legal store. 

I get my loan and cover my closing costs of about 3,000 leaving 20,000.

total $1000 monthlyRemember most of the cashflow cities are just coming back to 2006 levels.. 130k down can get you a duplex, triplex or quad in riverside and san bernadino county. cash flow probably $400 to $500 a monthabout your other questions,,Need to set up LLC in state of property--- you dont need that. just a landlord insurance and a umbrella insurance to cover you.Need to set up business bank account--- rental income can be deposited in any accountNeed to find Mentor-- yes Need Attorney-- what for?

Even with MF its sometimes hard to get this information as many investors just do not keep up with it.I would recommend having an attorney or agent write the contract for you so you know your covered. 

Thought this might also benefit you.1st pillar is avoiding unnecessary and risky activities (don't drink and drive, insurance generally won’t cover your poor decisions) and take good care of your investments - these simple steps will help you prevent lawsuits before they even occur.2nd pillar is a good insurance policy as that cover the majority of your exposure.

It's awesome to meet another investor from the Buffalo area, by the way.My wife and I were thinking the same thing with respect to just simply positive cash flow/all house expenses being covered while we're house hacking, which should make the property that much more profitable once we move & rent out the unit we were living in.While we have a lot of family originally from the Buffalo area, we're relatively new to the area (approx 1 year now) and quickly finding out the areas that we should stay away from - we're certainly steering clear of the inner city areas.