Also make sure you are comfortable with some holding costs if the units don't get rented right away (if vacant).Also look into if there is rent control in the area that the property is located.

When I worked with a property management company, we had someone buy a unit (single family) that had a STR and marketed it as a STR.

Are you looking to have a team manage these properties? 

Where do you think a rehab is more likely to net the better sweat appreciation the high property value market or the low property value market?  

I agree that the market is very competitive in California - especially if you are searching via the MLS or making offers to distressed or vacant property homeowners. 

After getting the funds letter, which clearly states no appraisal was needed for this property, at the day of the closing, they came back and said no funds will be released until we get an appraisal.

Hi all,I'm looking for recommendations for a property manager for my 8-unit apartment building in Cullman, AL.

Quote from @Andrew Steffens: The pics we take when a property is at its peak of readiness, are the ones we keep. 

Congrats on taking action to get this first property under your belt. 

This simple update has big implications for property owners, allowing small repairs and maintenance to be handled more quickly and affordably.