While they cash flow, we've realized we're over-leveraged and want to take a different approach.Our plan is to purchase our first investment property in Indiana, possibly paying cash, with the goal of generating reliable income.

Sometimes, the more old-school approach like posting on local community boards can help you find reliable tenants.

A single-family home or small multi-unit property can be a great way to dip your toes in the water.Build a Team: Even if you’re planning to handle most things yourself, having a good real estate agent, property manager (if needed), and a reliable handyman can make life so much easier.Learn the Local Laws: Pensacola is pretty investor-friendly, but it’s always good to know local zoning laws and short-term rental regulations if you’re thinking about Airbnb or VRBO.Run the Numbers: Make sure you’re clear on the property’s cash flow potential.

These groups are goldmines for finding mentors, reliable vendors, and other investors to learn from.Property ManagementChoosing the right property management company can make or break your experience.

These tend to attract more reliable tenants, and the properties generally require less maintenance.

First, it fast-tracks your learning as an investor - you are forced to develop better time management skills, build your network of reliable contractors/ handymen, etc..Second, when you are ready to transition to a property manager, you are well equipped to evaluate and hire the right company.3.

If they fail to comply, you may need to involve legal counsel or contact your state’s real estate commission.Hire a Reliable Manager: Finding a professional, responsive property manager is key.

Any tips on finding reliable professionals in my area?

It's a new resource from BiggerPockets that helps you find reliable property management partnerships and gives you everything you need to make confident hiring decisions:-Expert Matching: Match with professionals who meet your criteria-Extra Assurance: See licenses, experience, ratings, reviews, and more that can be cross-checked with BiggerPockets members-Bonus Content: Plus they'll send you an interactive workbook: “How to Interview Property Management Companies”Hope this helps!

Reliable, thorough housecleaning services can be challenging to find.