This would be my first property but I would like to find someone that might be interested in partnerships in additional properties in the future.

Sellers often don't know what it is, so you'll have to find the property first, then ask if they are interested.

When I first started, I focused a lot on learning and networking too.

This swift transaction highlights the power of strategic partnerships and market timing.

If you sell within the first 3-5 years you're OTM.

We are looking at a duplex first probably and then single family.

Jokes aside, RBC is usually a solid first choice.

Quote from @Jaycee Greene: A few things I noticed, in addition to having the tenant pay the utilities are:1) Incorporate annual increases in rent higher than 2% (in your area, maybe 4%-5%) with a slightly smaller increase in operating expenses (say 2%-3%)2) With a gut rehab, I'm not sure why you need to spend $128/month on cap ex, at least for the first year or 2.3a) An 80% cash out refi is probably going to be hard to get.

Last year was the first and only year we had a negative cash flow, and that is driven by the anti-landlord west coast sentiment.  

Any other tips for a first-time landlord?