Starting local offers hands-on experience and control, ideal for learning the ropes, while out-of-state investments can provide better returns but require a reliable property manager.

And now, that roommate will be moving out soon, and has told me that the main tenant was not cleaning up after himself.

@David LewisRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

This was a cost-effective way to meet our requirement of providing just a stove and refrigerator (we don’t include washers or dryers), without breaking the bank further.But here’s the twist: If we were upgrading appliances for a long-term tenant with a stellar payment history, we might invest in brand-new appliances.

Are you looking to sell some/all of your portfolio by minimizing your tax exposure and be more "maintenance free"? 

If you will be leasing be sure to get a good maintenance clause in your lease.

Rentals boil down to how much do you net after paying principle, interest, taxes, insurance, and a maintenance reserve.  

I have alway been passionate about real estate as I use to own my own property maintenance company but I was always to scared to actually pull the trigger because I always feel like I don’t know enough or have the right support.  

Purchase price: $35,000 Cash invested: $35,000 Sale price: $110,000 Purchased off-market from a tired landlord, this fix-and-flip involved renovating a distressed property with outdated features and deferred maintenance.

Purchase price: $35,000 Cash invested: $35,000 Sale price: $110,000 A fix-and-flip project purchased off-market from a tired landlord involved buying a distressed property with significant deferred maintenance.