@David Zhu I host a meetup in Los Gatos.If you interested in out of state multi family feel free to check it out :meetup.com/Los-Gatos-Real-Estate-Networking-Meetup/

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That brings up a host of questions:What if I don't like how they are managing the property? 

I have no responsibilities - other than reading regular reports and (hopefully) depositing checks. 

I think out of over 500+ guests, we have maybe had 2-3 terrible guests (nothing major, though), and around 5-10, I would never host again.

When accounting for location, the hosts that have a unique property with great reviews, service and pricing will have much much better occupancy than the hosts that think they can throw some bland furnishings into any old property and be successful. 

fyi - financing an AFH is not as  easy as financing a " regular " investment  property  .....commerical or   special  ADH  loan program  will be needed and   terms will be  higher  

So ultimately we determined that the brrr model was not as successful for us as it turned into another full time job (probably more hours than our regular job). 

Would love to know how are you able to get interest rates so low - in the high 3.xx% when 10yr US Treasuries are > 4% and regular property investment interest rates are > 6%.

These reasons are pushed to "the regular people" real world wealthy people I've see don't worry about it.