Given you and your investor both have experience in different areas, I’d say keep a flexible approach and compare city requirements before putting too much money down.

, and keeping my $40K cash to invest in the property. 

I appreciate the suggestion about checking with insurance agents regarding an elevation cert—definitely something I’ll keep in mind for future deals.

Keep learning and determine your long term goals.

For the property I purchase, I’d like to keep my monthly mortgage payments at $2,000 or less.I prefer a turn-key property since this is my first rental, and I want to start generating monthly cash flow immediately without the delay of repairs or managing two mortgages.

More great news, our market just keeps on delivering. 

They must keep the temperature at a minimum of 50 degrees F.

These are 2-bedroom, 1-bathroom properties that I had originally planned to keep in my rental portfolio, but my plans changed.

As I look into the market and start to build a team I had a few questions:1)  How difficult is it to get and keep a rental license OOS?

I appreciate it.john Your plan seems well-thought-out, but I’d keep a few things in mind.