Hi all,I'm looking for recommendations for a property manager for my 8-unit apartment building in Cullman, AL.

If you do decide on MN, did a similar analysis as you a few months back in St Paul with rent-to-price ratios based on median price and median rents for each neighborhood in St Paul.

* What is your average rent amount for all properties managed?

After seeing my brother's success with flix and flip in the bay area over the last 4 years, I decided to explore the same in New York.

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall loss.

I have many questions about this topic - moving from self-managed to PM - I'll post something separately on this topic. 

If you are investing out of state, then do you already have a good property manager lined up? 

@Tyler DavisUsing Locations in QuickBooks can get tricky, especially when managing multiple properties.

I'm now figuring out how to maximize the return on current properties and add value, efficient ways to self manage, etc.

@Michael K Gallagher Any major cons I should look out for if I decide to house hack?