I work on a ton of Padsplits in the Atlanta market and it is tough for a 4 bed co-living property to be much more profitable than a long term tenant factoring in additional utility expesnes, padsplit fees, and additional property management expenses.

Do you have experience managing renovations if needed? 

The local property will give you practical management experience.You might do better buying a REIT if you are planning to buy single properties far from home.

Jeremah - First off, congrats on what you and your wife have already built—it’s no small feat managing W-2 income, business income, and rental properties while thinking strategically about tax planning.

For example it is my understanding that Big Bear allows it but whoever is managing the property has to live within 1 hour of the property. 

Quote from @Carson Hyland: Even if you buy the right property, failing to manage it well will kill your cash flow. 

@Devon ShivesFrom my experience, If you're considering a cash-out refinance, negotiate for a smaller amount to keep the increase in your mortgage payment manageable.

Capacity and Tolerance. 1) Capacity: how many people can you comfortably fit in the property, is there room to add more, or add more value to the tenants to increase rent.2) Tolerance: How many people are you comfortable living with, if there are vacancies are you able to handle that.House hacking is an amazing path to homeownership, and a nice low barrier to entry into self managing your properties.

For appointment setting: we offer an AI-powered re-engagement and appointment setting platform specifically built for RE investors that integrates with your CRM and ultimately makes your lead management process much more efficient. 

I also have a ton of property management experience and offer tenant placement.