The cost of a PM is absolutely nothing compared to the cost of placing or keeping a bad tenant or making one legal misstep.

Compare that to my sec 8 building in suburbs I am constantly texting these low lifes to get their tiny portion of the rent or to get roaches out of their units because they refuse to clean properly. 

With your oilfield salary in the low 200s, you’re in a strong position to invest in a 4-plex, which can provide better cash flow and economies of scale compared to a duplex.

This is what I and many many others on this site did when we started. 25 is a great age to work very hard and see benefits in a very short time compared to a 35 year old with kids who has to outsource everything shooting for a 8-12% returns due to life obligations.

And the price to enter is extremely low compared to other markets in the U.S

When you buy a home in Ohio for significantly more than its current assessed value, like $400K compared to the county's assessed $80K, your property taxes will likely increase, as the county will reassess the property based on your purchase price.Regarding your idea to have the seller transfer the property into an LLC and then buy the LLC: this strategy may avoid immediate reassessment, but it depends on local tax laws, and you should consult a real estate attorney to confirm if this is viable in Ohio.

@Brandon WongHello, I put together a spreadsheet model a while ago for calculating IRRs on rental investments, as an attempt to capture comparable returns by discounting future cash flows (in REI you also hear about cash-on-cash, which is typically at a point in time), and it sounded like you are having a related predicament.

I compared size, amenities, whether or not a property was rehabbed, parking, and location.

Similarly, investing in A-class single-family homes offers a different experience compared to C-class multifamily properties.What is your desired goal?

Be sure to compare the terms and fees before making a decision!