Property Management is key to a making your rental a success or failure. One of the key elements is having a good cash flow. By selecting the right tenant that pays their rent on time, most other things operate much more smoothly. Cash flow will allow you to pay your mortgage on time and maintain your rental property.
Proper property management will save you thousands of dollars now and later. Some professionals say that the key to real estate is "Location, Location, Location", but with good property management, location is secondary and not the key to having a successful property.