Avoid areas with high vacancy rates or declining property values, often concentrated in certain inner-city neighborhoods.Since you’re out of state, building a local team is crucial.

First off- $4.5M for 48 units and 50% are vacant is not a steal, unless this property is located in a downtown area and you have a contact with a developer who will pay 2X to build a high rise. $93k/unit for 50% vacancy doesn't carry hardly any debt, hence why they are capping you at $500k.

Hi @NA*I am not affiliated with Sodt Pull Solutions*To perform soft credit pulls on potential borrowers, services like Soft Pull Solutions can be highly effective.

If you're ARV is high enough (relative to your purchase price), you can get away with 20% or less down.

Protecting yourself from any future issues will require a good understanding of the situation your house is in when you buy it.Tl;dr: crime here is relatively low, declining population numbers don't take students into account, properties are cheap, rents are high BUT be careful where you buy.This concludes my TED Talk, ha!

Quote from @Andres Felipe Alba Hernandez: Quote from @Rick Albert: There is a high probability it is enforceable.

I personally manage my rent by the room property and yes there are some headaches, but as you mentioned it's one of the most viable ways to maximize returns in a high-priced market.

These two things can do worlds of good for a high net worth investor looking to maximize tax- deferred/tax-free growth and minimize general taxes from operations.

Hey Shawn - Highly suggest going to local meetups and joining investing groups on FB to build your local network.

I live in a VERY high demand tourist area with lots of rental properties and I have been working in property management for 5 years. 2 years ago, I ventured out onto my own because I was pregnant and wanted to work from home and stay with my baby.