Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

This is more of a tax planning matter, so it would involve working through several specific questions to tailor it to your situation.

These areas are more affordable and still within driving distance so you can visit and oversee renovations easily.My best tip for BRRRR as a beginner is to build a solid team—make sure you have a reliable contractor, property manager, and lender who understand the strategy. 

If an agent is involved your chances of having a meaningful conversation with the seller is limited. 

What is the risk involved?

If you’re looking to invest long distance, I definitely recommend building your core-4 team.

I’m really excited to get involved in the community and learn about different markets across the country.As a first-time homebuyer and investor, I’m curious about which markets might be good for starting out.

I like them both, in general, but the best way to find a town to invest in outside of where you live if it's not affordable and if you don't want to be withing driving distance easily (recommended) is to make two lists:1. every town you have ever lived in or visited for more than a month2. every town your closest friends and family live (the ones you like)Then you take those two lists and see where they overlap with the data or lists you are using.

You materially participate in an activity if you're involved in the operation of the activity on a regular, continuous, and substantial basis.

You could also qualify if you spend more time on the property than anyone else involved, regardless of hitting 100 hours.Ex. managing contractors, handling bookings, setting up the property, or dealing with guest communications, you might meet the material participation requirement without needing to track 100 hours.The key is to document everything.