If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

Congrats @Emily Pena - I'm also an agent (working mostly with investors), property manager and an investor myself (currently owning 26 rental units). 

For over a decade, I’ve focused on multifamily acquisitions and asset management with firms ranging from small boutique offices to large syndicators.

From there, you have to decide whether you want to be a landlord or hire a property manager.

. $215k is the offer that is falling through.It's not something we could self manage.

Just do a little bit of research and connect with a great property manager.

I'm using a property management software (TurboTenant) for rental applications and screening reports, and they charge each prospective tenant $45 for this service.However, the Wisconsin State Legislature states that the landlord can only charge the actual cost of a credit report (up to $25).

Wrong Property Management ApproachIt doesn’t matter how good the people who are doing the property management are, if they are not using a property management approach designed for co-living, everyone loses.  

Even if you break even, you will lose money every month it sits vacant, when you need repairs, property management, etc.

Start by being actively involved with your PROPERTY MANAGEMENT duties.