This strategy aligns well with the buy-and-hold model.Leverage Local Expertise: Partner with professionals like real estate agents familiar with rental markets and property managers who understand tenant needs.

I understand why this is the choice asset for many: they are inexpensive with no barrier & easily financed (easily attainable). 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

I would agree if we were talking about financial statements, but as I understand it, we are talking about tax basis reports.For tax purposes, one can use a modified cash basis when filing.

I have been interested in real estate investing for a long time, but never really had the community, capital, or understanding of how.

If you have offers out on properties, make sure you understand the rent control levels they are under before you buy.

Make sure that your tax accountant understands this. 

@Adam Newman yeah, not understanding your statements, "I have $50k plus about 7k in the bank" and "take out a loan and go in with 20% from the start?".

Many real estate agents dabble in property management without fully understanding the complexities involved, making it risky to work with them.