For new investors not sure how to get started

[Randall Re II]

What might be a few factors that can make a rental property a good choice for long-term investment? Here are a few key considerations:

1. -Location: A property that is located in a desirable area with good schools, amenities, and public transportation is more likely to attract and retain tenants.
2. -Condition: A property that is well-maintained and in good repair is more likely to attract and retain tenants, and it will also be less expensive to maintain over time. If you plan on updating it or rehabbing, make sure to understand, you don't know, what you don't know and keep that mindset to figure things out ahead of time. 
3. I learned a lot on my first rental property the hard way, however, because I invested so much time in knowing the area, It worked out. 
4. -Size and layout: A property that is well-suited to the needs of the local rental market (e.g., a two-bedroom apartment in a city with a lot of young professionals) is more likely to be rented quickly and consistently. Functionality matters. Think if you lived there and the layout didn't make sense. 
5. -Rent: The rent for the property should be competitive within the local market, but also high enough to generate a positive cash flow for the owner.
6. Financing: It's important to carefully consider the financing options available for the property, including the down payment, interest rate, and loan terms. 
7. Rent is high in certain areas of the country, don't trust all websites. I compared 5 different websites and 5 property managers said I'd only get $1200 max, and guess what, I went with $1600 because I did my comps, and I rented it within the week of posting it for $1600. 
8. -Management: If you're not planning to manage the property yourself, it's important to have a reliable property management company in place to handle the day-to-day tasks of managing the rental. I went through several PM's before finding one I like. The first thing is, when you take over, you'll always do some touch-ups on the property. 
9. If they can't break down the costs of the updates, repairs, and painting, then they are taking you for a ride. Side not, when they give you numbers, check. I caught a very reputable PM company that gave me numbers and the man power and hours didn't add up and the PM after 3 seperate calls still couldn't explain the costs. Pull assume they can throw numbers down and you won't check it. 
10. I'm a veteran so here's some advice: TRUST BUT, VERIFY EVERYTHING.

Ultimately, the right rental property for you will depend on your specific financial goals and risk tolerance, as well as the local real estate market. It's a good idea to carefully research and evaluate your options before making a decision.