Just focusing on the passive income you want to achieve will leave you chasing cash flow which will have you buying properties in worse areas with harder tenancies that seem to cash flow better, but will have large cap ex.Any time someone asks a question about where to invest and it can be anywhere, they aren't ready to invest and are opening themselves up to every pitch in the world on an area.

For property management, I am personally a fan of managing your first property (with proper education or mentorship before beginning) since this is where you will learn first hand what is required in managing a tenant.

@Geoff Engel depending on what amount of available cash you are starting with and what you ultimately want to achieve will help determine your path.

Either way, after five years, I can say I achieved a certain level of passive income—just not the kind that puts cash in my pocket. 

Start small, focus on building relationships, and take advantage of Conroe’s growing market to achieve your goals.Good luck!

I also wouldnt let your mom go into 2nd position on an investment property with any sort of restructuring; it doenst sound like she's in a position to risk being wiped out.Overall, though, if you want cashflow on the new property but cant achieve that after a refi into a market rate loan, it probably makes more sense to just flip it, pay off your heloc and your mom, and use the remaining capital for the next deal.

This deal aligns with my strategy of adding value and achieving robust returns.

It takes time and patience, but the long-term benefits are well worth it.I’ve personally gained invaluable knowledge, listings, and deals from friendships I’ve built over the years.The more people you engage with, the faster you’ll achieve your goals!

There are clear winners in types of photos that should be included in your listing, along with examples of listings I believe achieve this.

We can also discuss which locations tend to command higher rents to help you achieve the best possible return on investment.Let me know if you’d like to set up a time to chat—I look forward to connecting!