Managing a property with your dad can be a great way to gain hands-on experience.

On the other hand, if you want something simpler or closer to home, a single-family home might work better.Since you need more space for your growing family, consider looking for properties that offer both extra room and good investment potential.

Is PadSplit a company you need to work with to essentially find tenants and then they hand the boots on the ground stuff off to you?

So, when you replace something and make it bigger, better, or last longer, it’s categorized as CapEx.On the other hand, repairs are generally routine maintenance tasks that keep the property in its ordinary operating condition.

The TLDR is that if you can take the money you would have otherwise put in the property and invest it somewhere with higher returns then you could be better off doing it that way even if it means smaller or no monthly cashflow because money in your hand now is more valuable than the same money in the future.

The idea is to find motivated sellers and help them through the selling process either off-market (wholesaling/investor purchase) or on-market (hands-on coordination, cosmetic prep, referral to real estate agent).

Super hungry and eager to get my hands on work to earn and learn as soon as I can.

I agree that gaining hands-on experience in property management before fully diving in is crucial.

Hey Earl, I manage MTRs (most of them in NC/SC but a handful elsewhere).

@Kathy Tran make sure the tenant is paying CLOSE to market rent.Do NOT be short sighted over a 5-10% difference.A good, stable, long-term tenant is worth at least 5-10% less than market rent.On the other hand, did you get the rent ledgers?