Closing costs are a necessary factor in any loan process and to be expected.

Quote from @Paul Ladendorf: Quote from @Henry Lazerow: A big factor is also who you have do repairs.

I'm not sure what yields Priti is talking about, but I know that after you factor that tax in, it goes way down. 

Some here will tell you all tenants hate their landlord so factor that into your actions.

Here's an ideal PM contract: The two keys are: The PM is incentivized to make you money, not charge high fees, and is contractually bound to provide reporting that you can understand in a timely manner. 

Starting local offers hands-on experience and control, ideal for learning the ropes, while out-of-state investments can provide better returns but require a reliable property manager.

Recently, a lot of the market factors that kept people away, are the same that are drawing attention.

Once you have those answers and find out how Airbnb would penalize canceled bookings...that alone is huge deciding factor for some old/new STR homeowners....you can move forward with the best answers that would help you meet your 12-month goals! 

And I feel the ideal portfolio can benefit from the diversification of both.I feel directly owned properties are great because they give me maximum control and the ability to tweak them exactly how I want.

I highly encourage everyone to view the property before putting money down, but that's not ideal for many of them, so I do allow them to rent "sight unseen," but I am very open with them to ensure they don't show up and back out.1.