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

Wickman class's were aimed at helping RE agents get to the next level and since my wife was a top producer and managed 70 agents she was very good at it.. 

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.

House-hacking with a multi-family property is a fantastic way to get started—it’s one of the best strategies for learning the ropes of property management while generating income right from the start.

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.

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.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

It took quite a good time (~6months) even with a property manager but finally found the renter after rent decrease by 200$.

Section 8 and multifamily aren't for the faint of heart and can be challenging for novice investors both in managing and reselling.

Any realtors / property managers / contractors / wholesalers please connect with me!