Verify employment and call previous landlords to avoid tenants with red flags.Rent Setting: Research comparable rentals in your neighborhood to ensure your rent is competitive.Use Technology: RentRedi is a great choice.

Additionally, you may wish to speak with a CPA as to whether or not becoming an S Corp is the right decision – they can assist with reducing self-employment taxes.

Only invest in cities with significant and sustained population growth.Lasts throughout your lifetime: For your rental income to last, your tenants must remain employed at similar wages.

Through my studies, I met my current employer, who owns a construction company where I serve as the Sales Director.

And maybe diversify a little, invest half in a low cost S&P500 fund like VOO and the split the rest across 2 or 3 syndications.

These platforms are affordable and offer comprehensive reports (credit, background, eviction history) without you having to handle sensitive information directly.Verify Employment and Landlord History: Your plan to request pay stubs and a landlord reference is solid.

They are a commodity, and owners are competing directly against hotels in this space, so rents are ultra low.

I’ll still try to answer the question: Pros of Kansas City for buy and hold small multifamily rentals:  Hybrid market so you get some cash flow and some appreciation (con if you want only cash flow or only want appreciation) Inventory of 2, 4, and 5-50 MF buildings (not true of a lot of markets that only have SFH and very large complexes 100+ units)Relatively low property taxes, although check for the city and state you are in (e.g.

This low inventory will continue to pressure up rents.The sales market is (finally) showing a seasonal slowdown.Sales - Months of SupplyThere are about 1.8 months of supply for our target property profile.

Quote from @Bonnie Low: It doesn't have to be condos or apartments necessarily.