Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

Add a picture you've personally taken of the property if you use postcards.

This is a double-edged sword. 

Make it look super 'cute' and charge double!

In 20 years, those same houses that you own today will be paid off and worth double what they are now. 

I will say the picture did not match your strategy of going to Austin.

However, you can claim a tax credit on your California return for taxes paid to Oregon, mitigating double taxation.If you only plan to own this one property, consider using umbrella insurance as an alternative to an LLC.

Of 10% management 10% reserves. not understanding asset class's. so when you get into a CD class your serves need to be doubled or tripled.. 

Video walkthroughs, uploads of weekly pictures and videos each week.

A double-entry system (like QuickBooks) allows you to reconcile your bank statements, ensuring no missing or duplicate transactions.