This deal was the catalyst that got me into the mortgage banking industry.

At the same time, I think the industry in general is a mess and David is right that many investors will get hurt.  

They have no 2-factor authentication and don't email you to confirm that you want to update your login, both of which I'd consider industry standard these days.

It’s still relatively affordable compared to bigger cities, has strong rental demand, and no state income tax, which is always a plus.

Not sure how many PMCs you've had bad experiences with, but we'll take exception to:"Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health)".BP seems to have more threads about screening mistakes by DIY landlords as opposed to PMCs.Now, if you'd have mentioned Maintenance, you'd get no argument from me:) Even the PMC industry acknowledges maintenance as one of the biggest challenges.Rereading my post, I kinda see how I sounded negative toward PMs.  

Mashvisor – Helps compare long-term vs. short-term rental potential, especially useful if you’re weighing both options. 4.

Be ready for continuous learning and remember that networking is essential in this industry.

I know that I will need a good realtor on my team that understands not just the market but the real estate investment industry itself.

Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.