My least favorite thing about the student rentals are not the students.

It would also be wise to educate yourself on what a good PM does and doesn't do, how they do it, what they charge and why, etc.My book, The DIY Landlord, will be out in December and can teach you how to select or supervise a property manager.

The ability to do what you want, when you want, and have money coming in to support that.Things to work on: savings, credit, going to local real estate meetups, listening to podcasts, reading books.

Quote from @Ragan Manning: Hey Nicholas,I am the owner of Manning Your Books and I work exclusively with REI clients.

Lately we have been lucky enough to have our favorite local Property Management guru David Tilney join us in person and on Zoom to share his endless knowledge about how to effectively manage your (or others) rental properties!

The Long-Distance Real Estate Investing book is a great one to get the lay of the land on doing it from afar, but getting on-site experience will also be important in your journey.

It is perhaps my favorite meetup that is not associated with a larger group (such as SDRE, NSDRE, SDCRE).For the most part the lenders only lend on non owner occupied ADU, at low percentage of ADU addition costs because they know that usually the value extract will be significantly less than the ADU addition costs.  

For more details buy the Book on Flipping Houses,  for a few bucks. 

I claimed for years 1) initial cash flow and cash flow over a long hold have a poor coupling 2) that I would purchase a property with negative initial cash flow.  3) I cared about total return and did not give a $hit about cash flow if the other returns produce an outstanding return 4) that cash flow is my least favorite return because it gets taxed annually. 

It's a great book about how he became debt-free and started investing in house hacks.