Your experience reminds me to manage the portfolio well (i.e. sell losers) and to be patient. 

This seems like a no-brainer to me and fits well into a vertical integration strategy (I'm also thinking about managing other people's rentals as even more vertical integration (aka side money).  

Reach out to a LOCAL property manager that knows the rental market BEFORE you go under contract! 

For example it is my understanding that Big Bear allows it but whoever is managing the property has to live within 1 hour of the property. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

The car/renters/umbrella won't be with Foremost but this way you can have one agent to manage your portfolio.

I am a local Property Manager and would love to help in anyway I can of youd likeThank you!

Also thinking about wholesaling as a means to build capital  @Makani Donaldson Do you know anyone in your market that owns MTRs and LTRs that manages their own properties and needs help?

We manage hundreds of units.

Your property management company can help once you own the property but up until then you need someone good on your side!!!