That's the other challenge that i've learned, with only one month as SD, if the tenant leaves even in a relatively new build the fees add up. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Buying a portfolio without experience just throws you in the deep end without the ability to learn and develop these things. 2.

The fact that you’re here shows that you’re serious about learning and growing, and that’s half the battle.If you’re looking for real, practical guidance, I’m happy to help.

Learning to manage locally is trial by fire. 

I would join a team and learn the ropes. 

@Dan ShuderRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

What is REIA, where can I learn more about it and where do Real Estate Investors meet in Puerto Rico?

Lessons learned?

I started my jouney here in 2011 and I am still learning everyday - especially from others on this forum.My personal portfolio is located within Stamford and Bridgeport.