Check on ownership status before you get into escrow.Get multiple inspections to be able to really determine the extent of repairs.Try to align yourself with the best contractors, had good referrals, but somehow nobody stood behind their warranties.Have a good lawyer and local accounting firm.Talk to locals to see how things are done and what's happening around you.Have patience!

A good way to find deals is by connecting with local real estate agents, wholesalers, or checking out sites like Facebook groups and Craigslist.

You do not need a license (like a brokers license) to manage your own properties.However, check your town to make sure you don't need a business license.In Tacoma, WA, as an example, even if you have a property manager, the owners themselves also need to have a Tacoma business license.If you hire a property manager, they will need a brokers license to manage other people's properties.Good luck!

Investing close to where you live and a place where you would want to live has advantages like being able to check on your property and meet with your team.

If they're like the other relocation companies, you can ask to background check the tenants.

However, it’s important to ensure the area is safe. in those areas I would recommend checking local crime statistics on SpotCrime. you can use this link for an example,to get detailed information: https://spotcrime.com/map?

A good tip is to reach out to contractors, visit local supply stores, and check out online resources for cost ranges.

If anything, we're now seeing data that suggests there isnt much reason for rates to drop significantly any time soon.

If something happens and someone is injured due to over occupancy you could open yourself to legal liability and you would have to check with your insurance policy to see if you are covered since you knowingly would be operating for more occupancy than permitted for the structure.

If it is getting capital to start: will Tom write checks to your deals?