We bought our first rental in dec 2023, this was to test the waters of being a landlord in the US.

I know it can feel like uncharted waters at first.

I also see your point about avoiding bargain basement properties, especially insofar as tax shielding is easier with an asset of a reasonable size.Your point about barriers to entry is also interesting, since I suppose those barriers can be geography (natural boundaries of mountains/water), but you're probably referring to that which impedes future construction?

We fixed the foundation and the flat roof issues with pooling water, and rents didn't meet the mortgage just yet.In 2023, we finally started to cash flow.

When the tide does shift, you'll be cruising on Easy Street while the others are still getting in the water, adjusting their goggles, and warming up their muscles.

Think hiking, mountain biking, white water rafting and a community overall focused on all natural things and sustainability.

The pool needs a new liner, and I do not know if the pumps work because there is no water in the pool.

Interested in getting some extra income with converting the extra space in the basement into a rentable unit.Basements in a one-family home can be lawfully rented only if the following conditions are met:Compliance with the Housing Maintenance Code for minimum room size.There is a minimum ceiling height of 7 ft.The walls, as high as ground level, must be damp- and water-proofed if HPD determines that subsoil conditions on the lot require it.The basement is occupied by one family and does not include boarders.Every room must have at least one window.The bottom of any yard or other required open space cannot be higher than six inches below the window sill of any required window in the room.

Water issues are the most common. 

I don't recommend throwing the baby out with the bath water, and definitely make sure you understand the nature of the Mentor you choose.BP is a great resource to meet some amazing people.