We’re fortunate to have an above-average income and live well below our means.This summer, we’ll be moving to Detroit (PCSing in August), and we’ve saved about $120,000 to invest in addition to having funds set aside for the home we’ll purchase in Detroit.The reason I’m posting is that I’m struggling to decide how to best allocate the $120k.

Spending a ton on property management doesn't seem like the best move.

I work on a ton of Padsplits in the Atlanta market and it is tough for a 4 bed co-living property to be much more profitable than a long term tenant factoring in additional utility expesnes, padsplit fees, and additional property management expenses.

@David Kendall Jr, for deals that I am managing myself, I want a minimum $50k profit potential, and shoot for about a 15-20% profit margin, whichever is greater.At the end of the day, percentages alone don't work for me, because my time has a value to it. 

Fast forward 25 years later and John decided he wanted the riches associated with the gurus backed by the Vegas/Provo real estate marketing companies.

Jeremah - First off, congrats on what you and your wife have already built—it’s no small feat managing W-2 income, business income, and rental properties while thinking strategically about tax planning.

Ive been using the same for many years now and its my foundation for operations, follow-up, workflow management and communications. 

I am a CT based investor, flipper and property management company owner.  

My family makes a joke about how those items aren't "Nickproof") At this point we decided to call it and come back tomorrow. 

You could trim your expenses by eliminating property management - you can absolutely do this yourself on a 6-unit, even as a newbie.