Jumping into real estate

[Randy Glenn]

Hello,

Been lurking around for a couple days, trying to not ask duplicate questions. But honestly I have so many...

A couple partners and I are all going in together. We've narrowed down our markets to KC, Detroit, and certain parts of TX. We have a decent down payment (60-80K). We are all working professionals so we are going to hire a property management companies mainly focusing on turn key properties at first. We are still in the very first stages of our decisions so we are several months away from acting on things. I think we are looking at properties that are around the 200K range or less. My question is this. Is this how some of you all started? I know there will be pitfalls along the way, lessons learned, but I'm trying to mitigate some of that as we go along. Is there anything else we should be looking at? I feel like this is one of those you don't know what you don't know things, so any extra information is wonderful.

Thanks for your input