Some key qualities to look for include:- **Responsive communication**: A PM company that keeps you in the loop and addresses issues promptly- **Local expertise**: Knowledge of the Birmingham market and experience with Section 8 tenants.- **Proactive maintenance**: Regular inspections and quick resolution of maintenance issues to keep tenants happy and properties in good condition- **Transparent reporting**: Clear and detailed financial reports so you know exactly where your money is goingIf your current PM isn’t meeting these standards, it might be worth exploring other options.

There are considerable economic headwinds for 2025 including if equity markets pull back, there could be a reallocation of profits into real estate.

Good point - should have included that.

The 38% cash on cash return is including the principal.

Just make sure that you include this requirement in your costs.

UPS box is more expensive, but can do more things such as used as a business entity's main address on record.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I recognize there are other ways I could invest this cash (including another property) but I am being mindful of levering myself out too much in the current environment where job losses are more common in my industry (tech).

While both involve finding and properly securing a site and bringing it to full entitlement, the ground-up process includes the land piece but gets way more involved and complex to execute.The full "Monty" for ground-up development needs to include financial literacy, an explanation of metrics, and how they work.

I would keep detailed records of my deals to include photos that I could use later when I am approaching a potential funding partner.