We both are drawn to either single family long term rentals, or STR's in the right locations.Right now we have $20k cash available for immediate investment, with the ability to increase that to $60-70k in the next 3 years through savings and bonuses at our day jobs.

Olu - Assuming the geography and style/type of building fits your criteria (others have made comments that you should consider) the other part of this discussion on whether this is a "good deal" is the ability to increase the NOI of the property over time.

There are some requirements with my account on the ability to withdraw regarding how much you can withdraw at once and how frequently you can withdraw.

Then you've opened Pandoras Box and you instantly have the guys in the HazMat suits with fans and plastic sheets all over.....and a bill for $5000 for something you could have done for $50.I used to do this kind of work on the weekends when the city inspectors weren't driving around :-) 

Your success with VA's gonna depends on your ability to train them, giving a script, a list and a dialer are unfortunately not enough.

Two things I would say that are now a must for me if I were to go back on the market is the software would have to be web-based and it must have the ability to integrate with other software.

I see the IRS regs about rental activities being defined as passive, but I don't see anything about a lower rate.I just see that this "passive activity" distinction subjects us to "passive activity loss rules", which limit our ability to offset other types of income with net passive losses.But even that limitation is negated for us because we fall into the "active participation" exception, so we can offset our regular earned taxable income dollar-for-dollar with losses from our rental (if I understand the regs correctly).

A desire and ability to share their knowledge4.

If he cant talk about this up front, be cautious and mindful of their ability to represent you down the road Best of luck! 

I've used them, and I know a lot of professional property managers that do.Obligo is a "billing authorization" system.