This can lead to more opportunities and partnerships.Market Understanding: As a property manager, you'll gain a deeper understanding of the local market, which can be invaluable when you start acquiring your own properties.Steady Income Stream: Property management can provide a consistent income, which can be particularly beneficial in the early stages of your real estate venture.Skill Development: You'll develop a range of skills from customer service to maintenance oversight, which are crucial for successful property ownership.Brand Recognition: Establishing a presence as a reliable property management company can boost your reputation, making it easier to attract tenants and investors when you start acquiring properties.Cons:Time Commitment: Property management can be time-consuming, especially if you're dealing with multiple properties or demanding clients.Regulatory Compliance: Staying compliant with local laws and regulations requires diligence and can be complex.Conflict Resolution: Dealing with tenant issues and conflicts is an inevitable part of property management and can sometimes be challenging.Financial Risk: There are financial risks involved, including late payments or damage to properties.Market Fluctuations: The property market can be unpredictable, affecting both rental income and property values.Overall, starting with a property management company can be a smart way to enter the real estate space, especially in an area with a clear need for such services.

You bet, but not active or pre-foreclosure.

@Jaime Farias I think part of the problem is the learning curve of all the other involved parties.

Yes, getting sued is a risk factor and I've been involved with frivolous lawsuits which are not fun, but in my opinion you'd be in a much better spot owning a property in your personal name that let's you keep an extra 10-20% of the purchase price in your pocket as emergency funds, as opposed to buying the loan under an LLC that requires every last penny you might have to make the higher down payment, then you have to operate on a shoestring.

Lost rent from vacancy could easily be several thousand...so, by time you add it all up, it's easily possible for a sewer line replacement to end up costing $40k+ if it involves those types of ancillary expenses.To me, spending a few hundred bucks on a scope to prevent a $40k+ capex on a property worth over half a million is one of the easiest choices I make in the world of REI!

I would follow all of his free stuff before you buy anything and realize that when you pay for something, you want there to be others paying for it that you can be involved with in real life because that is where the magic and long-term relationships happen.

Why would they stop if nobody sues or gets the police involved?

@Michael Dallas this sounds like it could either be a great deal or a suckers bet, and unfortunately, it's impossible for any of us to tell.

My understanding is that the buyer assuming the loan has to meet the same credit/underwriting criteria as the original borrower, but this is not my area of expertise - lenders are typically not involved in assumptions.

After multiple calls and emails about the matter (even involving the local HUD office), I finally get a response that says "Unfortunately, HACW is experiencing a temporary shortfall of funding and will be unable to pay the HAP amount for this month..."