Before you even begin to venture out into any real estate market, you must consider the most important aspect of real estate investing which is the customer (i.e. tenant). They are the ones who will pay your bills, tell you of any issues and leave you with positive cash flow every month.
For this reason, you must absolutely have an outstanding property manager who will oversee their every request. Whether you manage your own properties or outsource this aspect of your business, this is key to success. The best property can quickly turn into a nightmare if impeccable property management does not occur. This can also be the difference between a regular property and an outstanding one with people lining up to rent from you. It has certainly happened to me!
If the thought of a leaky toilet call at midnight is enough to stop you from managing a property, then consider getting a property manager who has experience in the community you are considering purchasing in. You should also get to know your property manager on a personal level also and this will only make your overall experience more beneficial.
For a detailed list of questions to ask your prospective property manager, please visit this site: http://tinyurl.com/bq2y2s9