I am new to real estate investing and looking to connect with any local investor.

That said, be sure to check your local jurisdiction for other regulations.

Quote from @Devin Slone: I live in Huntington and was looking for local meetups to go to and I just stumbled upon this post!

You'll learn what contractors are good at such repairs, and eventually people will start bringing you "problem properties" with that issue.Another related idea: contact a good local realtor and ask them if they know of any on or off market properties that would be a hard sell for most buyers. 

If the money is not held according to local landlord tenant law and/or was was spent (either intentionally or unintentionally), that act would be treated as an exclusion no different than under any other insurance policy.

Squatters can now be locked out of a property and their possessions removed, but a landlord CANNOT physically remove the squatters themselves.The local police are supposed to enforce these laws and assist landlords in removing squatters.The reality is that when you call the Detroit Police to remove squatters:1) The police often don’t know/care about squatter laws and state you must take the squatters to court to evict them.

I write and call my local and state political representatives weekly about this.

The 24.9% share is greater than the national average of 13.8%, according to CoworkingMag.The Austin metro had a 261% increase in teleworkers between 2014 and 2023, the report found, which is above the national average of 207%.https://www.kxan.com/news/local/austin/report-austin-leads-u...

Sometimes folks overlook how real prce apprecation can be impacted by having acreage that’s not typical in suburban areas.In Phoenix, where I’m based, a lot of us collaborate with local probate attorneys who know about hidden opportunities that never see the open market.

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.