Personally, my favorite way of sourcing deals is building relationships with brokers and nurturing those relationships by checking in consistently.

A fair rate for solid management typically falls between 20-25%.Superhost or High Review Ratings Matter – Ask if the properties they manage consistently earn Superhost status or maintain high guest ratings.Communication & Accountability – A good property manager should be responsive and proactive.

It can be a long process over time with multiple dynamics you have to be on top of consistently.

Anyways, knowing the area seems a good advice seems a good advice and a prerequisite for consistent success.Regards, Rui

McKinney is thriving, but so are other parts of North Texas, and a broader perspective could reveal other great opportunities.Here’s what I’ve observed managing a significant number of rentals in the area:Bedrooms and Layouts:3-bed, 2-bath homes consistently attract the largest pool of tenants and have the highest occupancy rates.4-bedroom homes have grown in demand, especially with the rise of remote work, as tenants look for extra space to use as a home office.Square footage is less critical than number of beds and baths.Supply and Demand:McKinney’s growth is driving demand, but the quality of the location matters greatly.

Before that, I purchased property in Rhode Island.

BAM is consistently paying out monthly with Class A shares but class B shares stopped paying out almost immediately with the interest rate hikes.

The $1,500 net cash flow you mentioned represents a tightened rental return that could provide consistent passive income.

OpportunitiesAffordability: Compared to many West Coast markets, Albuquerque properties often come at a more affordable price point, making it possible for investors to get started without a massive initial capital.Rental Demand: Due to the presence of UNM and other educational institutions, there's a consistent demand for rental properties, especially those close to campuses.Cultural Appeal: With its rich Native American and Hispanic heritage, Albuquerque offers cultural festivals, markets, and historical sites.

This requires consistent oversight and experience, which most investors simply don’t have.The Bottom LineIf you want to lose money and risk expensive legal fees, go ahead and self-manage.