Hi Paola,If you are looking to buy another primary, looking to put the property into a LLC, may be changes in your income/job, looking for faster/smoother closing, DSCR could make more sense.

I like the idea of diversification of my investments and I love the strategy BAM has articulated: the focus on properties with below market rents in growing areas with jobs and good schools. 

The article also fails to mention that overall transaction costs can actually be higher in countries where commissions are lower because the agent plays a different role, and due to needing to pay a lawyer for paperwork that agents complete here as part of their job (called a solicitor in Britain) plus VAT taxes and other closing costs need to factored in on top of the sales commissions, which we don't have here, overall costs can actually be higher even if commissions are lower. 

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Property is in Granite City, tenant lost his job, and has stopped responding to texts and emails. 

I am not sure what type of real estate investing you're considering, but it sounds like, with your family and busy job, you won't have a lot of time to be hands-on or personally involved. 

In our 'day job' business of remodeling we have stayed just a partnership with an LLC.

Hi Anderson, Nice to meet you. 

@Candy Kimbro Congrats on your STR property, nice cash flow for sure.

I feel like it would be great to trust a property management company on all of this, but it would be hard not to step in if you could do a better job at screening bad tenants (eg screening HUGE future problems).I initially managed properties myself, but now I delegate that responsibility to my business partner, personal assistant, or a property manager at my brokerage.Most PMs I know will send you an applicant for final approval and you can get on the phone with them and ask them questions