New to BP, would like advice on my strategy

[Bryan Germann]

Hello All!

My name is Bryan and I am into rentals.  I would love any feedback on my current approach and some ideas on how I can step up my game without dramatically disrupting my current lifestyle.  

I am 30 and currently own 3 homes, the one I live in and 2 rentals which I also lived in.  My first rental was when I was in college and I rehabbed the entire property, I got it for a great price and a low mortgage payment.  So with the improvements I was making roughly $350/month on a 2br/1ba house.  Its also very close to a university and rents in hours...literally.  

My second home is about 1.5 hours away from the first and is also a smaller 3br/2ba house which I got for a steal of a deal, its in a "transitioning" neighborhood though which is close to a growing and gentrifying city center with close proximity to parks and a very large trail system.  I had high hopes for this property when I moved in 3.5 years ago but not a lot has happened other than the market being very high right now.  I got a new job and decided to keep it.  I am currenty renting this property for $1350 with only a $867 mortgage payment...thats a $483 profit monthly and the best part is the house was redone before I moved in so it needs basically nothing.  

My latest home is the most expensive I have bought at $265k but is also the largest home at 4br/2ba but its in Minneapolis, MN in a great neighborhood and its undervalued by about $25k according to my appraisal with no improvements.  My exit strategy for this one is a live in for 2-3 year and sell but to rehab it on my own while living there and hopefully make a bit of money on the exit.  Figure I need to live here for my job and I enjoy doing the work on the house so no harm done.

So that is my current status, its a bit hap hazard and just a more go with the flow of life mentality for obtaining and managing my properties but 3 at 30 is not bad in my opinion and most importantly I am making money.  I just buy a property I like and then rent it which may be a folly way to go but its what I have done so far.  I want to buy more property in my primary market of upstate SC, because I plan to return there in 3-4 years and I perfer the taxes/market there to the mid west. 

What are your thoughts on how I am going about this, is it a smart way to go?  Do you see any strategies I can add to this that would increase my # of rentals while I am remote in MN?  Is there anything I should stop doing or be worried about?