Any tips? 

Just make sure your contract is written well enough so you are protected.To me it is worth a shot if the numbers make sense.I will look into that, and appreciate the tip!

I'm aware of seller financing as a possible option and will be on the lookout, but it certainly dramatically lowers my deal pool in an already incredibly competitive market.

But at a certain point, your renter pool becomes smaller and there's a diminishing return on your investment to differentiate your property.

I purchased in 2019 and there was certainly a learning curve (understanding county rules and code, getting to know the local renter demographic, dealing with a limited pool of service providers in the area, understanding fire risk and mitigation; etc).

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Share any tips you have for a newbie! 

Explore partnerships or joint ventures with other investors to pool resources and mitigate financial risks.Good luck!

When we have investors approach us about a purchasing a condo as an investment, we steer them towards a townhome, preferably with a pool, if their budget permits.

Here are a few tips to help you navigate this:Tenant Considerations: When dealing with tenant-occupied properties, it’s crucial to understand the existing lease agreements.