Sometimes, buying an existing property can be more cost-effective and less time-consuming and maybe require slightly less permits, etc. 

I'm not sure about other neighborhoods in Cincinnati but my properties' area (Mt Healthy) just introduced a City Rental Registration, starting 2025, that costs $100.

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

Those situations go bad more often than not, costing you money and the friendship.

Its pretty awesome (BTW, I am not affiliated with FUB, just a passionate users)You can capture all the homeowner demographics along with associated relationships and information - pictures, files, emails, notes, calls, text, etc.You can have a team number(s) at no addition costs (we use it to lead generate for different states and can be configured to round-robin. 

However what happens when the tenant vacates and now the unit has to be turned over/takes a few months to find a new tenant and during that same period of time the sewer line goes and you get hit with that $15,000 cap ex expense in addition to the vacancy and turn over costs.

They are even working on getting me the evicted tenant's security deposit, the missing JANUARY rent since the place is still empty, and covering the cost of my own manager re-listing the property.

From there it is really just a matter of determining comps, cost to rehab a property, and your timeline.I have helped several investors flip their first home in Austin and learn how to do it effectively.

You magically get the seller to cover every single closing cost (A $12k gift, or a trick to get you to buy their problem.).

-Management is low - you'll need at least 10% plus leasing costs - typically a month's rent for each lease-up, and sometimes a renewal fee as well-Insurance seems low-Are taxes accurate?