Preparing to Buy First SFH Rental Two Years Out

[Philippe Monfiston]

Hi, BP Community!

My wife and I are planning to purchase a long-term SFH investment property in 2024 in MD or PA, within reasonable driving distance. (We live in Calvert County, MD.) We are looking for guidance on what we should be doing to prepare. Should we focus on saving for a down payment? If we cannot save the (entire) downpayment, should we be looking for a partner? If so, do you have recommendations there?

What market research, trends, and indicators should we monitor? What other considerations should we take into account?

We want to use our time (and money) wisely and would appreciate some direction.

Thanks in advance.