Obtain a working knowledge of the local rental market. 

As someone else mentioned, insurance here is generally less costly than in Florida and other beach markets. 

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

I now offer "limited service" as a PM for 10% which includes marketing on 20+ channels, 24/7 guest communication, daily pricing, automations and software connections, but it is 10% of revenue. 

Ensure your contractor has a clear timeline, keep extra cash reserves, and start marketing your rental rooms early. 

Forget collections agency.

They’ll have a deep understanding of the market and a strong network, which can help you identify the best opportunities.Owning rental property isn’t as simple as it might seem.

Very communicative, hands on, and thorough with their property management.As some additional context, I own a few rentals in different markets and Michele's team is top notch compared to them.

I’m targeting assets between 25-100 units located in high-growth markets that exhibit strong fundamentals.

==========================My relative is asking if this is a viable way to legally avoid having to pay taxes:STEP 1: SELL PRIMARY RESIDENCE (House A)-Sell primary residence to son-in-law for cost basis + $500K-File gift tax form for difference between sale price & market value-Not pay capital gains on $500K due to personal exemption.STEP 2: SELL RENTAL PROPERTIES-Do 1031 exchange and buy House A back from son-in-law-Rent out House A for 1 year before move back in==========================Thoughts?