Investing as a new couple
Hello all!
My wife and I just bought an investment property in a different state our family is in. We plan to rent the property out and maybe Airbnb a few years later.
My question is, is there anything that we need to worry about for screen of potential tenants in the state of Florida? I did some research about Florida and it seems mostly the same in all states.
We had made up an application form for candidates and a $50 fee for background check and credit check.
Then once we find one, we will draft up a rental agreement.
I really want to get into real estate investing. However, the strategy that a lot are using is to leverage their debt and buy more property. For me it seems really risky. I feel you would lose it all if the market crashes or there is another hold on rental payments. Can someone give me some insight ? And it seems like you would need a lot more than 1 rental property if you want to make money.
How how does this work?