When analyzing properties, it's helpful to run a rental stress test to see if the deal can withstand unexpected challenges.

Challenges?

I think BRRRR would be quite challenging as a first deal in an out of state market, but that is just my opinion.

Sellers may struggle to mentally shift from "owner" to "tenant," which can create challenges with boundaries and property care.Security Deposit:If you’re doing a temporary leaseback, be sure to collect a substantial security deposit to cover potential damages and ensure they vacate on time.

If the tenant fails to provide proof, I would reach out to a local attorney about handling the lease violation appropriately, especially since Texas has specific landlord-tenant laws.

Hi Curt, Yes we handle all of Hudson, Bergen and Essex counties, NYC and beyond.

So, I'd say my wife's "honey-do list":)Regarding rental properties, it's that no matter how many processes you create to handle problems, there's always some new problem:(

These resources will teach you how to handle the various tenant problems you are guaranteed to face if you invest in real estate. 

Managing from out of state could be tricky, especially if you have a turn, making sure the property is ready to be marketed, doing showings, screening applicants, and then handling any maintenance/repairs. 

It does not take that many hours to look at a property, sign a contract or even manage tenants.If you are bored in your 9-5 it's time to move on to a job where you learn and get challenged so you can grow.