A key component of success is assembling a local team that handles property management.If you're new to investing, even if the property is out of state, start with a modest residential property.

Here are some considerations for investing in a duplex in the Dallas area and potential alternatives:Investing in a Duplex:If you rent out one property, you can possibly create positive cash flow by partially offsetting your living expenditures.If you're an investor with limited funds, duplexes could be a more accessible alternative because they may have lower entry expenses than bigger multifamily properties.Perform in-depth market research in the Dallas region to pinpoint communities that have high demand for rentals and good prospect for real estate growth.Take a look at owner-occupant-friendly financing choices including FHA loans, which frequently have less down payments.Make sure you have a well-defined escape plan.

If your pulling every mechanical component out, most interior wall and ceiling cladding, then the ROI on the energy upgrade may spec out nicely over a period of yearly savings (many years).

Make sure the major components have been updated.

If that's the case here, the PMC would probably not be liable.You'll also want to show the attorney any written communications with the PMC regarding the utilities and ongoing RentReady repairs, as these may also define who was responsible for what or if they took on more liability than covered in their management contract.

(a) "ORCHARD" OR "VINEYARD" DEFINED.

Remember, only because the IRS code defines rental real estate as passive for tax purposes. 

@Bruce WoodruffI guess it depends on how you define "real risk." 

Is there the occasional premature part failure, of course, but even Mercedes has recalls from time to time, no manufacturer does the QC on electrical components they use. 

Having a well-defined plan can help you make decisions on whether to sell the property, carry on house hacking, or switch to another kind of investment.Recall that effective home invasion demands thorough preparation, open communication, and flexibility.