All the best and keep us posted with your real estate journey.

A follow up question I now have would be do you think its smarter to completely pay off the first property before buying a new property or to keep going out and buying new properties once i have enough saved up for the down payment along with extra fees?

People come here, buy, move away and try to keep the house as a rental.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

If I keep it and rent it out, I will have around $70K in equity @Guillermo Perez   Just curious on why 70% instead of 75% loan to value? 

The only thing I would advise is to keep a close eye on the HOA fees, as that's where the cash flow can get squeezed.

But keep in mind that there might be some delays in getting payments started, particularly in the first month or two as inspections are completed and paperwork is processed.

Realistically, one checking account and an accounting system will meet all your needs and keep your business better organized than 7+ bank accounts.If you want to collect bank interest from excess cash, add a savings account.

Then definitely keep reading for explanations.Should you even bother?

So grateful you introduced yourself.. what's the one burning question about investing that keeps you up at night?