Sharon, thanks for sharing these stats—Houston is clearly holding strong!

I am planning to get into the TN real estate market as my first investment and am looking for some information.In particular: Areas to steer clear of, property management fees, typical cosmetic rehab costs, etc.My strategy is to put large down payments on 2 properties (relative to housing prices) to help pay for my living in NY while still gaining appreciation in a growing real estate market.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

But after working with the family, we purchased it for $42,000 and got to work.We had some unique challenges, like dealing with one of the heirs who wasn’t very cooperative and required a payoff to sign the paperwork we needed for clear title.

I will stear clear.   

My DP was around $20k and when I sold it I cleared over $200k.Good luck to you and let me know if there's ever anything else you'd like to know about house hacking.

When you put in the settings for state and local tax it should be clear what is collected and what needs to be remitted to each authority.

@Chase PomerantzWhen starting with rental property investing, focus on understanding the local market, laws, and setting clear investment goals.

Make sure you are clear on your objective so they are not showing you deals that are not worth looking at. 

This ensures you have a clear picture of what repairs are needed and helps avoid surprises during the rehab.