Hi all, I am brand new to REI and looking for my first rental property and could use some advice from those of you who have a lot of experience under your belt. I have found an older 6-plex, in decent shape, that shows good numbers with my analysis. It has good cash flow if I don't use a property manger, small, but still positive cash flow if I do. The previous owner was a businessman and self managed the property and was careful about tenant screening. The realtor indicated he was selling to pursue other interests.
I have a full time job and just enough saved to make the down payment on the property. I have no experience in rental properties, other than what I have read and listened to here and in books. Ideally, I would like to go without a property manager due to the increased cash flow.
Am I potentially biting off more than I can chew by acquiring a property with this many units as the first acquisition? Should I just start with a Property Manger, even though it will affect my cash flow? Is it better to start small or start "big"?
Any insight appreciated.
