It also includes managing your existing investment well to ensure you aren't bleeding money due to bad tenants, excess maintenance, etc. 

First, Are you licensed and insured to manage other people's properties?

Managing units is work.  

G'Day Alejandro,As a few have already mentioned, take a peak at Toledo also.In my opinion lower potential for long term appreciation but solid/"boring" cashflow.I prefer my portfolio to be "boring" but cashflowing lolLow entry points (Sub $100,000), high rents (Above the 1% rule).Blue collar working class decent folks that will stay and pay.Depending on the area but no derelict homes, yards well kept, cars with wheels and all tenants are employed.Plus, all are sophisticated enough to pay rent online so property management doesn't have to collect rents with bullet proof vests and shot guns lolI'm bias toward Toledo but it's worth considering.Wishing you much success

There are some types of trusts that bring a lot of protection, but you generally lose control of your assets and they are managed by someone else. 

Build a strong team with experienced lenders, real estate agents, and property managers, and educate yourself through books and podcasts.

Quote from @Josh Otero: Hi BP community, I know you've got some crazy tenant stories and I want to hear it.I'll go first:1) I was managing a 5 story apartment building and a dog fell off the 4th floor balcony because of the owner not paying attention.

Reqauest a refund from them verbally and in writing and  continue to follow up and  go up the  management  chain if needed . 

I’m also curious about the pros and cons of managing short-term rentals versus long-term tenants, especially for clients who are new to real estate.I’d love to hear from those of you who’ve been down this path before.

Focus on smaller single-family homes, condos with low HOA fees, or multi-family properties in these regions, and build a reliable local team of agents, property managers, and other professionals to ensure a smooth investing experience.