I live in California (Central Coast) and have built a 12-door portfolio in Detroit, which has been a great market for both cash flow and long-term potential.Detroit still offers properties well below the $150k mark, with strong rent-to-price ratios and a market that’s seeing growth in key areas.

Investors are particularly interested in properties near major universities, as they offer stable and growing returns.

Your maximum allowable offer. 

It offers tax benefits, allows investors to control performance, and is a good hedge against inflation.

A knowledgeable attorney can advise here.Create a solid operating agreement: Since you own the condo with a friend, a clear operating agreement is essential to outline responsibilities, decision-making, and profit-sharing for the LLC.To save on costs:Look for real estate attorneys who specialize in investment properties and might offer package deals for the retitling, operating agreement, and filing the LLC.Shop around for title companies that can handle the transfer smoothly and provide competitive rates.Research DIY options for setting up the LLC if your situation is straightforward, though I’d still recommend a lawyer for the transfer process itself.Good luck with the process!

Larger cities offer better infrastructure, such as international airports, interstate highways, and a broader talent pool, making them attractive to businesses and tenants.Avoid Rent ControlRent control laws can hinder your ability to adjust rents to match inflation, limit tenant screening, and complicate evictions.

I’ve been hearing some chatter about large hotel chains lobbying significant funds to push for regulations or outright bans on short-term rentals like Airbnb.

Offering discounts for weekday or longer stays could also help improve occupancy.

Freddie Mac only offers financing for single properties they do not offer 'Portfolio loans" meaning bundle them all into one loan.

Learn how to analyze deals, and analyze at least 20 of them just for practice and feedback before you make a real offer for any property.