If you plan on being a very active investor, it's possible but you will need to keep the velocity of your money up high.

As for your rental property, many investors set up separate LLCs for each property to limit liability, but it depends on your risk tolerance and goals.

Any other great PM's in Cleveland for out-of-area investors? 

Hello everyone.I’m a newbie investor and soon newbie landlord.

These sorts of questions are inherently subjective to the risk profile of the investor - but I'd like to hear some other perspectives on it.Thanks to anyone willing to share their insight.Mike

., @Rich Preston, @Cody Noblin, Alabama tax sale investors are entitled to take possession of property as soon as they receive their tax certificate, usually 5-15 days after the auction.

I literally just need to categorized income and all types of expenses.Do any of you properties investor have a recommendation on what accounting software to use for these type of set up?

You could also look for a partner/investor to buy you out over time.Regarding PMC's, most of the horror stories are based on:1) Selecting the cheapest PMC2) Unrealistic expectations3) Lack of engagement by owner with PMCBelow is our advice on screening PMCs:Recommend 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.

Investors can't predict the FED, economic outlook, and future rates cuts (100% correct) so it's sort of a bet you think rates won't come down (free refinance opportunity). 

Clearly in general the class D will have the higher maintenance/cap ex.What I recommend is every RE investor populate a spreadsheet with current replacement costs and expected average life span in months for every item on the property to determine the expected monthly maintenance/cap ex.