It's the second Wed of every month, a small group of people and variety of investor experience levels.

The information provided is for general knowledge based on my experience and should not be considered tax or legal advice.

Make sure that that person has a lot of experience, and make sure that there is at least 20% - 25% equity over and above the amount that you have lent and in your agreement it states that they can have no other liens or loans on top of yours.

Ask how many units they manage and how much experience they have.

I personally do not have experience managing rentals.

From my experience working with over 400 investors, consider alternative strategies like rent-by-the-room, buying an SFH with an ADU, or renting where you live while investing elsewhere.

Also look back on their application and see if you missed any 'red flags" so this can be a valuable learning experience for you.

How has your experience been so far with out-of-state investing?

For example, I own two large multifamily buildings, and when I tried to get a tax exemption for them, I had different experiences.

I very well could have done it the wrong way, but this was just my experience.