You have to have a team on the ground that can help you take care of the property, and if it is an STR, to help you take care of the guests.

If investing out of state, I recommend building a team you trust including a realtor, property manager, lender, and insurance agent, and maybe even a mentor who has invested in the same area.

The investor piece is a bit of chicken and the egg: you need to have an idea of what types of structures are out there (Kim and team, as well as other syndicators can give you some ideas).  

I would appreciate it if you could help me set up a team towards investing in rental properties.I will be self funding my initial investment but will use refinance to fund subsequent investments.I will appreciate your guidance.Suhael Ahmed

@Matthew Turcotte I would talk to @Sergio Altomare from Hearthfire HoldingsI’ve sold Sergio several self storage properties and he and his team are doing a great job putting together investors on self storage specific deals.

Whether that be setting up the team, finding the deals or the "boots on the ground" to bring the deal in.  

The biggest thing though is wherever you invest you hand select a great team to help you get started from a great realtor, contractor, property manager, and attorney

Just take what they have taught you to date and put your own team together dont rely on these companies that say they will plug you into their network.. it does not work that way. there is only so many contractors and so many props and jobs to get done. you need full control of your OWN team. 

Growing to the large number you are looking at in the time frame you want will require outside equity investors and will require a large team to help manage and support your work (at which point you'll probably move to apartment complexes rather than single family homes). 

You can do 5 year terms when buying a house.If you need a lender, my team is licensed in TX!