I bought my first house when I was 24 and now have 5 relatively small properties in Michigan!

.✔️ You’d rather pay for peace of mind and legal compliance.Final ThoughtsIf you’re house hacking a small multi-unit (like a 2- or 3-flat) and are comfortable being hands-on, self-managing can be a great way to save money and learn the business.

(Currently managing STRs and that’s taking up a lot of our time)* MFH vs SFH: We could consider a small apartment (20-30 units) but we are mindful of vacancy-risk of SFH and high-PM-cost of MFH.

This reduces exit options and affects the value. 10) Small number of small units is the most expensive residential development there is.

It’s a small single-family home in Florida that I plan to BRRRR.

Consider starting small by house hacking a single-family home, renting out rooms, or adding an ADU if possible.

I will be quick to admit I have only had experiences with small rentals (6 units and smaller) so if you are looking for help on larger apartment complexes I would not be a great resource.

I don't see it as an issue but many still do, at least in my small town where the majority of renters are elderly people looking for low maintenance housing options.

That is what the security deposit is for and if need be, the small claims court system.

.• I purchased a small 1B/1Ba condominium in a high rise building in 2004 for personal use.• In 2010, I moved out and decided to put in in service as a rental unit.• I was able to keep it well occupied and leased throughout 2024.• I sold the condo unit in late 2024 for a nominal profit.That brings us to today.