Having a contingency fund is key.

Hey Andy one of the keys to profitability as a landlord is quick turn over. if you where renting your unit out for $2,000 a month and waited 3 months to get someone in.

I even look at residential properties with key words for potential conversions to multi but those are also hard to come by.

The key is finding out what the seller wants as far as terms but the majority just want a quick close with the highest price. 

For example, we might arrange a shorter penalty period or reduced fees if you expect to exit the property within a specific timeframe.Ultimately, the key is aligning your financing terms with your exit strategy.

Key Market Movers and How to Track Rateshttps://www.biggerpockets.com/blog/2024-dscr-loan-rates-and-...How Do DSCR Lenders Calculate Your Interest Rate?

Lastly, having a reserve fund is key to offsetting unexpected costs, especially with reduced cash flow from the loan repayments.Hope this helps, and congrats on tackling creative financing!

You’ve got a good list of cities already, but I’d definitely recommend adding Memphis, TN to your list for a few key reasons.First, Memphis is known for its affordable real estate.

Building relationships and finding the right deals will be key to your success - also make sure to start out small and go from there - don't get into something too big/you can't handle.

What are the key areas I should focus on to ensure I have the right people in place?