I manage around 400 rentals and probably terminate a couple dozen every year for lease violations.

If you love property management and want to start a business keep looking into it.Otherwise keep buying income producing properties to generate wealth.

Do they use pen and paper to record this information or do they have some sort of software to manage it? 

I don't want to bite off more than we can chew with managing a full reno while we learn the ropes. 

Plus, there are upfront costs to consider, like furnishing your condo and any expenses tied to managing it as a rental.As for refinancing, it might not be the right time with interest rates where they are.

It depends on the property.... is it value add where there's also a construction component or merely a management improvement opportunity?

Recently, management changed it so both loans can be made with one payment versus two separate transactions. 

I would like to start close to home as I plan to self manage the rental side of it.

However, this allowed me to gain initial experience and confidence without being overwhelmed by managing multiple platforms simultaneously.

For real estate investors, that means lower operational costs for managing properties and cheaper construction expenses.