The market has been growing in terms of population, jobs and, major companies moving here like Intel, Google, Meta, etc. 

You will have to verify those yourselves to ensure you end up with correct operating expenses.Quote from @Andrew Newcomb: Just following up on this in case anyone is still following:I learned about "cap rate" and "cash on cash" metrics in the BP learning articles and watched a couple vids on the BP rental calculator showing how it calcs those metrics for a prop (you have to add the details like loan info, expenses, etc). very cool tool.

I think I'll have to wait 2-3 years to pay for the renovation unless I take out a loan for the shower renovation.

That being said, I had to translate a lot of documents on my own for the loan process, so there was more effort involved.

As the owner of a property management company in Washington, I have encountered this situation before.

If you did finance some of the purchase using a non-recourse loan, then you need to read up on UBTI/UDFI and there are some taxation benefits that the IRA can achieve since it now owes taxes in that scenario.

Over the next 5–10 years, I plan to scale to a portfolio of rental properties and eventually diversify into syndications.I’m particularly interested in the Lynchburg, VA market and other areas with strong rental demand.What I Bring to the Table:I’ve been saving aggressively, and I’m exploring physician loans to help get started with minimal upfront costs.I’ve done a lot of reading (shoutout to BiggerPockets books!)

In my firm, we underwrite the Sponsor as a company in addition to their individual offerings.

Just google all the property management companies in your area.

Did you close this with a hard money loan?