Petersburg area, resulting in highly–profitable investments.If you need professional and courteous property management experts for your multifamily, single family, condominiums or town home, you've found the right company!

Network with your local market experts and see how people are making $.

For your out-of-state BRRRR plan, building a strong local team in St.

We have a local competitor that brags they don't charge a maintenance markup, yet we know:1) They charge owners $60/hour for their handyman2) How much do you think they're paying their handyman? 

It may be best to partner with someone that has done one before or somehow is a local expert on lot splits.If you can add a bathroom into existing space on high cost property it can add a lot of value.  

I am not an expert here but my thought is that you would learn a lot by getting your license and have more credibility in the industry at large so if your time and finances allow- get that license:)

Also there is a new thing called "novation" and I am not an expert on this and can't comment on it.

I always research the local market, compare properties, estimate expenses, and build a reserve fund.

If this is not something you're interested in delving into and learning to a high degree, then investing in publicly traded REITs would be another good option for you, which have historically returned about 13.5 per cent Per year over the past 50 years (1977-present), beating the US stock market by two per cent and even beating private real estate investing by 4 per cent (that's compared with the average real estate investor, not the experts here at Bigger Pockets).

Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.