Market, Budget, and time commitment are important to understand before you commit. 

Only extended exposure to your preferred market allows you to have this clarity and understanding about a property’s long term potential.

Given this was our first time purchasing an investment property, working with a partner on a cash deal, and understanding how to get FSBO deal completed, we had to learn a ton and ran into multiple challenges.

I understand you don't need a lot of space, but you are paying someone else's mortgage.I would start with a fixer-upper investment, up to four units.

Make sure you and your mortgage provider understand "delayed financing".

There are alot of risks using your heloc and you need to understand how you will make the monthly payments for the heloc AND how you plan to pay off the principle of the heloc.

So I understand, you are charging the tenants a $145 invoice because the plumber was unable to find anything wrong with the garbage disposal.

You MUST understand this as the suburbs are usually much nicer than the city.All of these challenges are why we have a map of Metro Detroit on our website with the cities in Macomb, Oakland and Wayne Counties listed, as well as 183 Neighborhoods in Detroit.The majority of the 48235 zip code is Class C, the question is, do you understand what that means?

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

I understand that the tenants will paying me money that i will put towards paying off the house but it just seems like so much could go wrong.