Make no mistake it isn’t quick or especially comfortable but it can definitely be profitable.As for the rent a room thing in most locales I have to wonder if the additional rent is worth the hassles of dealing with the increased time and liability of multiple tenants in one property but that’s a totally different conversation. 

I prefer markets that experience mild winters to eliminate the added costs brutal winters can bring. 

These were financial mistakes we made when we were younger, and unfortunately, they snowballed over time.We currently rent but own a rental property out of state that cash flows $600/month and has about $190,000 in equity.

If selling properties, a 1031 exchange defers capital gains taxes by reinvesting proceeds into another investment property, while Opportunity Zone investments can defer or eliminate capital gains tax over time.Long-term rentals should be held in an LLC for liability protection and tax efficiency.

Been there and made those mistakes in the past haha. 

Are there any red flags or common mistakes investors should avoid when reaching out?

If the city does expand ADU eligibility citywide, it could eliminate the need for rezoning in many cases.

Plus very few of these groups smoke or drink so that's other problems eliminated.  

In our experience, the #1 mistake landlords make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

I want to avoid mistakes as a new landlord so hoping to learn from all of you!