My first rental property, I am excited and fluster. What to do?

[Jun Wang]

I just got my offer accepted on my first rental property. I am excited that I finally made the first plunge, hopefully i will not regret it.

If you guys have any suggestions for property management, please help me.

The property is a single family home located in class B neighborhood in Madison AL. It is located in the best school district which is why I decided on this house.

I am planning on using property management since I am currently out of state. I used to live around Madison so I know the area very well.

How does the process work for the property management ? Do I need to set up electricity, water, and sewer before contacting them so they can show the house to future tenants ?

I plan on update the kitchen equipments, does Lowe’s or Home Depot offer installation on their purchase ? If not, should I hire a handyman or a contractor ?

If you guys can offer any advice, it will be greatly appreciated.

Thanks

[Jonathan Greene]

Since you lived in the area, you want to reach out to a local friend who can do constant drive-bys to make sure the property management team and/or contractor is doing what you ask them to do. OOS investing for first-time investors is not wise unless you have boots on the ground that you know and trust. What kind of oversight are you going to have? What are the numbers?