If you do this for 3-6 months, you'll know a good deal right away which will help you when you're ready to buy.

How did you find someone to oversee the set up and also be your boots on the ground as needed for emergencies once the rental is ready?

From the conferences I have attended, all I have read I think 3x rent is more common but that doesn't mean your PM is wrong. 

Quote from @Nevin Wilkie: Hey everyone, I am in the process of rehabbing a property I just bought, and I am now ready to get flooring.

Hi all, I have a rental in MO that was trashed by its last tenants in August, and has cost ~$20k to make ready.

It's great you are enthusiastic and ready to invest, don't let analysis paralysis stop you! 

I'm ready for my first purchase and I want to invest in MTR. 

@Jesus RodriguezWelcome to the community and be ready for a huge amount of information at your finger tips.

My capital has been ready for about a year now, but I’m still trying to figure out exactly where to invest within ATL.I’m specifically looking for Class B properties with strong cash flow potential for a BRRRR strategy, but honestly, it's been a bit overwhelming to narrow it down.If any rockstar agents have suggestions or know of properties that fit this criteria, please ping me!

The first commercial option was sold to someone else and we are in escrow for the condo one but ready to fold that deal due to several reasons that have made us lose faith that this is a good investment.