Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

For a better estimation, find a business broker in your area.For the loan options, speak with your banker and try to get involved in local real estate groups.

I recently moved to the DFW area and want to get involved in real estate in the near future (looking to buy a property in the next 6 months to a year).

Thank you Jaron..really do appreciate the guidance and candor…I am probably not articulating the finer points well…my daughters are actually only the tennets…they are not involved in any of the potential decisions I am considering.  

If you want to get involved with a great training program, try Lifestyles Unlimited, they have over 55,000 members nationwide. 

Purchase price: $35,000 Cash invested: $35,000 Sale price: $110,000 Purchased off-market from a tired landlord, this fix-and-flip involved renovating a distressed property with outdated features and deferred maintenance.

Purchase price: $35,000 Cash invested: $35,000 Sale price: $110,000 A fix-and-flip project purchased off-market from a tired landlord involved buying a distressed property with significant deferred maintenance.

Are you looking to just put the money to work or looking to be personally involved in getting, rehabbing, and dispo of deals?

If you spend the entire $300k restoring the property, then here is the end result:- deductible casualty loss of $50k- no current tax- the restored property has $0 basis and cannot be depreciated- when it is later sold, the entire sale price is taxableMechanics and reporting are tricky, and I would not recommend to DIY it, especially since my scenario is over-simplified, and your real scenario is likely to involve more gotchas.Thanks so much. 

Do you understand the added complexity, work involved, and costs?