As someone who occasionally works with these investors, I always try to emphasize the challenges that come with real estate like managing renovations, dealing with tenants, and navigating market fluctuations.

Build a strong team with experienced lenders, real estate agents, and property managers, and educate yourself through books and podcasts.

The location all in,cost him X; he got an appraisal for the bank from CBRE national firmof XX and now the firm who called him mentioned paying XXX.

Nobody watches your money like you do, you'll learn how to manage, so you can manage a manager later and you'll save precious early-years cash flow, which allows you to scale faster, especially in the first 5 years.

Quote from @Josh Otero: Hi BP community, I know you've got some crazy tenant stories and I want to hear it.I'll go first:1) I was managing a 5 story apartment building and a dog fell off the 4th floor balcony because of the owner not paying attention.

I've helped self-managing investors find good property management after disastrous DIY experiences, and I've helped investors with terrible property management find qualified and reputable companies.

Do managers that advertise 8% only do 8% when there's a bundle of doors to manage?

Firstly, it often generates higher rental income compared to long-term leases, particularly in desirable locations or during peak seasons.

I would run this by your realtor/property manager to get clarification.

It also includes managing your existing investment well to ensure you aren't bleeding money due to bad tenants, excess maintenance, etc.