Just do thorough research on the local market and have a solid plan for managing the properties remotely.Good luck!

Hi Max, being "caring" and having a conversation with them at the door can save you.  

Seller doesn't care how we split the real estate vs. the franchise, but I don't think I could get $250,000 for the real estate.

But be careful expecting to refinance.

I think every market and every person have their own reasons, but here are some thoughts from a property manager.Pros for self managing / cons of PM- Keep all the revenue- You have 100% control- You own listing, photos, etc- Nobody will ever care about your investment as much as you do.Cons for self managing/ Pros for property management- This is a 24h / 7days a week business and I imagine you have at least somewhat of a life I imagine. 

Hello @Melissa Sejour,Choosing an investment city is the most important decision you will make, so you are wise to carefully consider your options.Where you invest depends on your goals.

It’s a good plan, to me at least.

We plan on living in the house and doing most of the fixes and renovations ourselves.

Quote from @Colton Bridges: I recently bought a duplex that I plan to convert to a fourplex.

Keep in mind that many responsible agents tend to be conservative with their valuations, especially in today’s market, where properties aren’t moving as quickly as they once did.If we’re in a conservative market, pricing on the lower end may make sense, but it’s always good to weigh your options carefully.