So my policy is that I only change locks if the departing tenant was bad or left under less-than-optimal circumstances.

.#3 Contact Local Contractors for Labor Pricing / Hire a GC to ConsultCall local Subcontractors and get budget pricing for common repairs on your typical rehab project.For example, call a roofer and ask what their average cost per Square of Architectural Asphalt Shingle Roofing would be on a 1,500 sf house, with a 6/12 pitch.Note: Some contractors will be reluctant to share pricing without seeing the property, but tell them you are just looking for a rough budget number you can use on future projects.You can also pay a General Contractor a consulting fee of a couple of hundred dollars (per house) to walkthrough a few properties with you and provide a detailed estimate of prices that you can use as your 'menu for future projects.#4 Compile Your Prices into a Spreadsheet or Estimating SoftwareOnce you start to get a better understanding of Labor and Material costs you will want to store this data into a spreadsheet or software that you can use to help you streamline the estimating process.The Book on Estimating Rehab Costs comes with a spreadsheet that you can use to help you populate your own database of labor pricing and material pricing.

This can take months and years to optimize so you have the most reliable companies.If you would like to discuss property management models, don’t hesitate to reach out.

.· MOST IMPORTANTLY - Manage the investment not just the property – maintain the asset in optimal condition, constantly increase cashflow, limit liability and avoid issues with the investment.1st Type of Owners/Investors:· Appreciate the work done by their property management team.· Pleasant to work with.· Treat the relationship as a partnership.· Extremely diligent in their initial search for property management companies.

Starting a Real Estate Agent Team is a huge commitment and the team will not last or succeed without a full commitment and systems in place.Just like the experience folks have mentioned, you need more experience to attract top performers or like-minded/go-getters like yourself to your team.My 2 cents are:Continue your full-time jobSend your referrals to a trusted and capable agentContinue to optimize your "proprietory" lead generation strategiesClose more deals.

An extra 2 hours a day would be optimal, though.For hands-off, you're best house hacking... buy a multifamily, live in one side and rent out the others.

But you would be converting passive income to self employed income which as a general rule isn't smart/optimal, but there are scenarios which may make sense. 

The optimal answer depends on many factors.What is the purchase price?

@Derek Smith  for next time if you want to @ multiple people @ start typing name then choose name in pull down menu, then space,  repeat.

If you like to get nerdy with analytics then you'll likely find that you are more optimized with the HELOC versus cash,  but that's really not super important at this stage.