Even still, make sure you have your tenant screening down to a science and do not rely solely on PM.

If you just flat aren't comfortable with debt, then that's one thing, but I don't get the impression that's necessarily the case.

Not a lot of screen doors or porches. 

It’s humbing and frustrating, but it also teaches you those guardrails you’ll want next time.. like thorough screening, a solid lease agreement that sets ground rules upfront, and maybe even setting aside a bit more cushion in reserves.Chicago’s got plenty of investor-friendly pockets.

@Venka Pulla Many smaller PMCs are unprofessional, they can also be vindictive.So, suggest you get all the info you can from your Owner Portal before terminating them.Also, hire a new PMC BEFORE terminating the current PMC.Then, terminate and work closely with the new PMC to get tenant payments switched over and whatever documentation is missing.Hopefully, you'll screen for a new PMC better than you did to pick the current one!

There are many good locations - I'd suggest that you play around with the "Market Finder" tool at the top of the screen here, included with your pro membership. 

@Kevin G. go hang out at your local Home Depot between 6-9am on a Saturday.They contractors there at that time are the hard-working ones.Then, you just have to figure out how to screen them so you don't get ripped off.- First Rule: you buy the materials, so they don't need 50% down!

So now I'm thinking flats or small houses in towns that would be attractive to multiple markets (potentially expats, tourists, students, locals).1. 

Look at the application, start pricing third party flat fee services for each step.

Managing property can either be a lot of work or fairly hands-off—it largely depends on the property’s condition and how well you screen potential tenants.As for deciding between the two property types, it really comes down to your long-term goals.