I invest primarily in a lower cost area but also own property in, and am looking in, a higher cost area.

A cheap PM will cost you more than a good PM, and that's 8% - 10% of rent.3.)

And maybe diversify a little, invest half in a low cost S&P500 fund like VOO and the split the rest across 2 or 3 syndications.

This designation doesn’t cost extra or give the manager access to insurance payouts but ensures you and the property manager are aligned during incidents, such as tenant lawsuits or insurance claims.

@Jeffrey Holst that is not true, you don't get pass through tax advantages but not all W2 employees can fully use them in the year taken and the K-1 accounting can cost a lot.

The previous owner used it occasionally and rented it out to offset some costs.

For flips, ensure the profit margin after all costs is at least 20%-25%.

I was chatting with some of my lending buddies at big banks and they are all backing away from the CRE space including office because operating costs are increasing more quickly than rents.

In southern CA, even garage conversion ADU additions are typically costing more than the value added.  

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.