You’ll want to get really familiar with local zoning laws, short-term rental rules, and landlord-tenant laws as they vary by town if you plan on going the STR route.Focus on Cash Flow Early On: You might be tempted to go for something that appreciates quickly, but in the early stages, it’s important to find properties that bring in cash flow.

I’ve seen deals like this before where a seller needed quick cash but was still emotionally tied to the place.

We do it up the hill Reno and with a good agent they can give you all the options and guide you through the process.

.- Once your time is more impotant to you then the cost of a PMC, you can hire one.2) Hire a PMC to guide you on your first rental and learn from their expertise.- You can buy additional properties and DIY manage those, perhaps leaning on the PMC for any issues you're not sure how to handle on your own.Good luck:)

May need a little rate buy down but in the long run it is much better to raise your rate 1% to 1.5% versus taking a Heoc rate above 8%.The whole point of taking cash out is its quick and you avoid having the associated risks that come with a Heloc.

Your point on deciding which sacrifices you want to make seems like good guiding words when considering different investment opportunities.

Start with BiggerPockets Ultimate Beginners Guide (free).

I appreciate your time in answering me so quickly!

If they are professional, they can explain this quickly and easily.

In the worst case, the property is offloaded as quickly as possible, pay off LOC and take whatever profit there is and go to the next investment.