What a great start to building wealth!

If the lease auto-renews to a month-to-month, then you can post a letter on their door (take a pic) or send it by certified mail with a signature required with the new terms starting at the appropriate times based on the lease.

It’s a little more work to set up, but if you get a solid property manager, it’s not as scary as it sounds.If I were you, I’d keep digging into the Capitol region, NJ, and CT—compare the numbers, and maybe even start building connections with agents or wholesalers in those areas.

Start with BiggerPockets Ultimate Beginners Guide (free).

There is a ton of areas so I would start with where you are located at, within a 30 min drive

So hopefully he won't be able to start any company again.  

I recently purchased my home in October 2023 (before starting my real estate investing journey), so I don’t yet have access to any substantial equity.

It’s really amazing to see you getting started in real estate at such a young age and Out-of-state multifamily investments are a great way to begin. 

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

One thing I wish I knew starting out was the true overhead of running a RE business it can be pricey if you don't run your numbers right.