@Andrew Giunta
Study the market, make sure YOU understand it and do not just rely on real estate professionals from that area.
Travel to the target market area and look at the surrounding area and the specific streets you want to invest in.
Interview all agents, brokers, turn key providers you are considering partnering with and then ask for references on this site and references that live in the target market.
Go and meet the employees of the title company that you are going to use, make sure they are legit.
Get a third party inspection from an inspection company you pick out and put a buyer walk through clause in the purchase contract so you can inspect the property 1 to 2 weeks before closing.
Interview potential property management companies before you consider buying in the target area, without competent management you will lose money, therefore there would be no reason for you to invest in that market.
Choose a market that has jobs moving in, especially markets that are attracting large companies for stability.
When running the numbers set aside a certain amount for the monthly holding costs to account for business trips to the target market to inspect the properties to make sure the management company is doing their part and taking care of your tenants, who are your customers.
Pick a market that you can value add to the properties and not just pay top dollar for all the properties.
And also consider a market that can support major sports teams that have a loyal following, like a hockey team, basketball team, football team, tourist attractions like the Rock and Roll Hall of Fame. These industries need a lot of employees that support the businesses providing you with the potential of a large renters pool.
I wish you luck and great fortunes.
