Alright, now that the house is locked up and the paperwork is out of the way, it’s time to get messy.

I'm planning to do that for each of my two sons when they move out and go to school. 

Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

@Kisaki Nicole Kaopua as the previous comment had mentioned, I would take out a hard money loan as well.

I've got a proper manager as I'm out of state, but as I've got only this property, I have no other reference point.

Chris spelled it out.. but I will do it again. 

I would love to meet you when you come out some time.

You can purchase a primary home with seller financing, then rent out the spare rooms to generate income.

Always ask your future spouse if they will help you out. 

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.