If you don't flip, these guys are usually in the appropriate isles at Home Depot with the carts of supplies or just hang around the commercial check out.

It's a balance of cashflow and wealth accumulation.One of the goals is to have tenants pay as much of your cost-of-ownership as possible (loans, taxes, insurance, etc.)In high-cost areas, any Class A or B property you buy will usually negative cashflow for the first 3-5 years, until rents rise enough to cover the negative cashflow + rising taxes & insurance.Investing OOS increases your risks because you may not know the market and you can't check on everything/everyone all the time.If you move forward with your buddies, HIGHLY recommend creating a solid Partnership Agreement!

Quote from @Theodore Sutton: Check out the site meetup.com and also the events page on BP for meetings up in your area to meet people like this and build relationships.

@Sebastian Nadal for background checks, I use stessa/rent prep that’s available to us through biggerpockets tools.

If you decide to invest I would encourage you to check out North Carolina.

Finally, double-check local demand and rent trends in the area to ensure the pro forma income is achievable.I’ve worked on several mobile home park deals as a broker and am currently helping a few clients sell their parks, so I know how important it is to ensure the numbers make sense both now and in the long term.

Have you had a chance to check out any local meetups or REIA (Real Estate Investors Association) events?

That’s reassuring and I’ll check out that book.

Similar to the comments above on using FurnishedFinder, also check Airbnb and sort for 30+ day rental options. in addition, I'd recommend talking to the local university and hospitals nearby by calling to their various departments.

Leasing is a specialized skill—PMs deal with this daily, making them far better equipped to handle applications, verify income, conduct background checks, and evaluate a tenant’s overall suitability.Protecting Your Investment:The cost of a bad tenant can be far greater than the cost of hiring a professional.