Being nearby allows you to stay hands-on—you can see, touch, and fully immerse yourself in the process.There’s a lot to learn, not just about managing rentals but also about overseeing property management companies.Handling tenants and maintenance can feel overwhelming at times, but starting with a property close to home gives you the opportunity to gain valuable experience.

.💬 Ask in the right forum – If you’re looking for financial advice, head over to the Finance, Tax, and Legal forum.

You also have to make sure what you are offering is able to close and in a timely manner.  

Closing in a few weeks or less@Ben Fernandez So, I assume you're buying between $100k-$150k with $50k-$100k in rehab?

There are a bunch of properties that run on Padsplit in Jonesboro (even closed on a few weeks ago). 

Whenever I cold call someone I am cold calling the decision maker or someone close to the decision maker, who might be able to put me in touch with them. 

They usually come with fairly steep rates and high fees/points at closing.

If your target tenant is looking for a car-less lifestyle then you’re going to be competing with units close-in so you’ll have to win on price or features to get them out to 82nd.

Depending on how close I was to having 20% equity in the property and being able to avoid PMI, I’d consider using some of my cash to pay down the mortgage when I refinanced.

I'm a licensed mortgage broker and have closed loans with clients out of the country.