I live and invest in the Lafayette area myself - I own several in the area - broussard, freetown, broadmoor etc There's a decent market here, I think it's somewhat competitive but there is some availability as wellOff-market is the way to go 100%Purchasing a starter home is a great way to get started - I turned my first home into a rental before I even looked into real estate investing.

I use Facebook marketplace as my way of marketing my rentals.

Since the 10DLC regulations went into place in October 2023, texting is my number 1 marketing channel. 

This is my market and I live and work in 78610.

If you just take the 13,835 financed at 6% you are adding 83 dollars a month. so a double whammy.Now, lets consider if rates drop to 5.5% in 24 months (not a prediction just a what if) and you could have refinanced at a much lower costs then the above scenario in what you paid in pre-paid and additional interest. on the other hand, if rates for your same scenario after your 5 year payback period is 9, then you will have an asset with a much lower then current market rent.  

Josh, we are entering a period where the FED has came out and said rates are coming down.Based on decades of data, during market cycles when interest rates are decreasing, asset prices rise.

A great place to start is https://www.biggerpockets.com/meet which you can use to find like-minded people in your area and every other market across the nation that you may consider.You'll find some helpful tips at https://www.biggerpockets.com/starthere.For tips on how to get the most out of BiggerPockets, check out: https://www.biggerpockets.com/rei/biggerpockets-com-tutorial/The BiggerPockets Keyword Alert System is an awesome tool: https://www.biggerpockets.com/renewsblog/2012/12/1...See you on future threads!

With $15-20K liquid, focus on lower-cost Midwest markets where down payments stretch further. 

It is a very competitive market and units in the tens of thousands.

I'm actively seeking mentorship from someone with experience in similar markets who can shed more light on this process.