Make sure you situate (if you plan to) prior is crucial.

I have a primary house in Santa Maria CA that we are renting out and getting cash flow from it,  thinking of using the equity from that house to buy here in Orange County.

On Furnished Finder, the incremental rent appears to be about $1.20/SF.Having a property manager to handle mid-term rentals is crucial.

It's crucial to evaluate how the deal performs with the new mortgage:Updated Financials After Refinancing: Market Value: $459,000 Mortgage Amount (80% LTV): $367,200 Equity: $91,800 Interest Rate: 5% (30-Year Amortization) Assuming after 12months the rate will drop to 5%Monthly Expenses: Mortgage Payment (5% Interest): $1,971 (Now you are paying interest and principals) Property Tax: $260 (assuming has been increased with a 4% from last year) Utilities: $361 Insurance: $104 (+4% Adjustment) Vacancy: $166 (now after 12 months we can assume we have some vacancy at 5% factor on annual rent) Repairs & Maintenance: $166 (now after 12 months we can assume we have repairs at 5% factor on annual rent) Total Monthly Expenses: $3,028Rent Income after 12 months assuming annual rent increase at 5% : $3,323Cash Flow: $295$ per month 😊Long-Term Gains: $5,418 Principal Paydown year 2 (this will increase each as you pay off your mortgage $36,720 Property Appreciation (assuming 8% per year) $3,540 Cash Flow (this will increase as rents rise)Total Annual Return on Investment: $45,678 with just $ $22,789 remaining in the deal.

They’re generally easier to manage and can help you gain valuable experience in property management.When you’re ready to scale up and try strategies like the BRRRR method out of state, it’s crucial to have a strong local network.

This was super eye opening as someone planning to build an ADU in Orange County, CA.

Striking the right balance between enforcement and maintaining an inclusive, education-focused community will be crucial to its success.

The market can be tricky with its block-by-block nature, but it's been a great fit for all-cash purchases like yours.I also have a team on the ground in Detroit that helps manage everything from finding deals to overseeing rehabs, which is crucial for out-of-state investors.

Risk mitigation is crucial, and learning from past experiences is beneficial.

If you're looking for cities with the greatest potential of appreciation, I also suggest putting Columbus, Ohio, on your list, as there's a ton of growth happening in the city.No matter where you chose to invest, it will be crucial to work with an investor friendly agent so you're able to gain the right insight on the different areas and the risks involved.