A business partner approached me about it, and I negotiated the deal based on CAP rate.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Best of Both Worlds: Rent Now, Sell LaterOne approach would be to rent the property for a few years, taking advantage of the strong rental market, then sell it down the road when they’re ready to cash out or if they see the market peak.

The lone ranger approach works for some people, and I'm certainly not saying this is the only way or the "right way" to success, but for me and others in the community, it has been valuable and rewarding.

To hit $1mm net equity in 5 years you have to approach from mainly an appreciation approach.  

I liked his perspective, his approach to investing and his “voice”.

You could start with your agent or a local agent who supports investors and could have contacts to refer to you.Lastly, you could consider negotiating with a local PM to take on a hybrid approach to management.  

For us approaching retirement age, we want to have a mix of mortgaged properties and properties with full equity to leverage instead of relying on saving up for the next investment.