.- Most contractors will cut corners, or worse, once they figure out they won't be watched closely:( Your job will also go to the bottom of their priority list.Monitoring progress is relatively easy: hire that same inspector to go by weekly or before any payments to take a VIDEO of:1) What was done2) Quality of workmanshipOne other thing you didn't ask about, payments to contractors.- They all want 50% down or as much as they can squeeze out of you. 

This property would have multiple income streams, including as an airbnb, wedding venue, bed and breakfast, corporate retreat. 

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

Assuming you have another stream of income when you move there and I hope you do, I would recommend using the smallest amount of capital possible and invest in the most doors (1-4 units) that you can. 

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

You can see just within this stream that there are upset investors with this group and some misunderstandings about how distributions are even made.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

I'll watch a few videos and see what I can learn.

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

Professional photos could cost as little as $150, but you should pay more to get experience shots, golden hour, aerial, and video.