Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

Hi there, if you're open to holding onto the property, converting it into an Airbnb or short-term rental could significantly increase your cash flow, especially with the current demand for rental properties.

I made a few thousand less than expected but I figure that's just the cost of doing business sometimes.Based on my experience I wouldn't let the remote possibility that a homeowner might go into greed mode dissuade you from doing these deals.

If you don't you are likely costing yourself bookings.

Between carrying costs, having to potentially raise equity and/or utilizing debt during the pre-development period  had I settled plus associated time, I  probably would have spent a similar amount of money.

If I were to purchase an Airstream to use as lodging while I travel across the US to my rental properties, make repairs, and perform lease turnovers, would I be able to not only deduct fuel and campground costs but also depreciate the purchase price across 5 years? 

If you live in a high cost of living area, investing in more affordable out-of-state markets can be a great strategy.

While it may seem unfair to offer financial incentives to problematic tenants, sometimes it’s the quickest and least costly way to regain control of your property and move forward.Lastly, connect with local landlord associations or advocacy groups.

I am thinking to switch to online rent collection from receiving checks in the mail, but worried that receiving 1099k will increase the complexity during tax filing time.

Utilities cost $150 per month.