If you’re in it for cash flow, you’ll likely find it difficult to find a deal that will pencil out.Besides, like @Jason Taken said, hundreds of thousands of new units have come online post-pandemic, so there’s a lot of new builds at the moment.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

@Zach Howard you pretty much MUST hold it in an LLC if you don't have the proper visa or greencard.1) Many attorneys over-hype the benefits of an LLC for each property.

You did things outside of the normal without proper knowledge.

Can anyone recommend software which would accept monthly payments (from me to seller) and create proper 1099 forms for tax purposes at year end? 

This is his 1st post. 

Of course our big motivation is commission but you can get commission or a referral fee or something in an off market transaction if done properly.

With proper tenant screening and systems in place you can absolutely be a successful landlord.

If that’s the case, I’d recommend considering areas outside of Dallas proper where you can still find properties with strong growth potential.Cities like Prosper, Melissa, Princeton, and Anna are excellent options to explore.

@Paola AstridRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.