You will need a team of people to work with, including contractors.

Now that we are 10 days from closing, I am talking to loan officer to get the Closing Disclosure so that I can know the exact cash to close (I need to move money from brokerage to bank account) and he is mentioning about 2% IPC limit. 

Not sure how important that is, but we put it into our spreadsheet… trying to learn and figure out our best move!

We have a team there that makes us quite efficient.

Build a strong team, prioritize cash flow, and take the time to understand the local market and regulations, especially for development projects.

So - somewhere 2 hours away, or somewhere you like to vacation in, or where all your family lives, or where you plan to move someday.Too many people are trying to do exactly what you're doing - pick a market based on a formula - and they end up buying a random 'cheap' property thousands of miles away, turn it over to people they've never met or even spoken to, and then... lose money.  

These steps can help you secure financing and confidently move forward with your first property.Good luck!

As I approach my move out strategy where I will be converting my upper unit into a STR, I often think of guest interaction amongst the two units.

A good team on the ground should be able to help you avoid all of these potential pitfalls. 

I’m A 11th Grader And I’m Committed To Being A Young Real Estate Investor After HighSchool...Just Trying To Seek Advice