I'm specifically interested in acquiring a rental property within the $800k to $1.2M price range in Washington state.However, upon evaluating rental properties in the current market, I've noticed a concerning trend of negative cash flow.

I started acquiring buy and holds with my business partner last year and we are up to 15 units.Lately I have been really focused on moving on from my W2 job and expanding the business we have.

Right now I’ve sorta been hesitant to start due to my lack of knowledge on investing in real estate but I hope to acquire as much knowledge as I can through BP.

for some reason REITs have never been a sexy asset class, older investors look at REITs as a weird-bond and wonder why own something with 4-5% dividend when they can own Investment Grade corporates at 5-6% or even recently US treasuries at 5%, and young investors don't even know what they are.yet they acquire class A real estate, the kind you and I can't due to price, the kind that has the best capital appreciation in great areas long term, and they have access to credit at lower rates than us, or they can just print shares and get new capital for free that way, to buy more great properties, They can pay for the best management, they don't ever pay brokerage fees either in or out (have everything in -house), and they generally have much lower risk as most of their portfolios are leveraged at only about 30-40% LTV, and we have zero personal liability when owning them as opposed to the litigation headaches we get with direct RE, and right now they collectively are on sale about 25-50% below their NAVs at lowest valuation since 2008, as opposed to SP500 at all time highs.

What I have done in this situation is I acquired the property and then had the individual sign a long term renewable lease and the cost was $1/yr + the costs of insurance and taxes. 

A year ago I wanted to start my rental portfolio so I got a mentor and got into action and have acquired 15 units in the last year!

Home Inspection Costs: The costs associated with a home inspection for a rental property are typically considered part of the cost of acquiring the property.

The first order of business when you acquire a property is evaluating RISK MANAGEMENT of your property.  

I wish you well in making your choice and that you succeed in acquiring your first rental home by 2024!

I have since acquired my own real estate sales license and subsequently broker license to start, grow, and operate Home Roots Property Management.