I accept the need for a competent PM and the reality that competence typically ain't cheap.

I do shy away from small cheap houses - 3/1 or 2/1 in bad areas or that are on a pier and beam type foundation.

A triplex that cheap is hard to come by I'm curious as to which market you're investing in and the state of the property.

Lastly, the price point is still very cheap here in the sense that you can still find investment deals that hit the 1% rule for 120-180k!

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and there's amazing appreciation potential.

It also prevents you from making the #1 noobie mistake, which is buying in the hood just because it's cheap.

An update one year later after this post, I now have:- Got my property and casualty license and wrote 370+ policies in a year- Saved up a few more thousand dollars in investable cash, paid off $20K in debt and raised my credit score by 100 points- Launched a direct to seller cold email marketing campaign and generated leads for cheap- Got connected with a few real estate investing communities like Subtle Asian Real Estate and Pace Morby's SubTo- Aggressively read and studied as much as I can get my hands onThat being said, I decided to run a marketing campaign to generate distressed seller leads in Phoenix, Arizona, mostly because:1.

To wait until, the actions of others, made things look "cheap". 

There are varying opinions on this but mine is: cheap never goes out of style.

If they can get a property dirt cheap, you are still going to see it at the 80% of ARV like he says.