With $200K-$250K, you can secure high-quality rental properties in both cities while benefiting from steady appreciation, strong rental demand, and landlord-friendly laws.Oklahoma City has a rapidly growing economy, with major industries like aerospace, energy, healthcare, and tech fueling job growth.

Focus on key areas first (like floors, walls, kitchen, or bathroom), which may help you handle the costs more gradually, even if it means moving in furniture or updating fixtures down the line.Also, since the tenant left it in rough shape, be sure to document all the damage (photos, receipts) in case you decide to pursue reimbursement through their security deposit or in court.

End to end, I bought the land, secured permits, got the PPA and IA, SUP, and still own the project.

This is a significant potential benefit that can impact everything from security deposits to rent controls to eviction procedures. 

It may also allow investors to secure financing or begin renovations with confidence, knowing the property’s title is insured up to a certain point.

Talk with some securities attorneys, brokers, lenders. 

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

If you’re not well-versed in lease agreements, security deposit rules, or eviction procedures, you could run into trouble.❌ Emotional Stress – Handling tenant issues (especially late payments or evictions) can be stressful, especially if you live in the same building.Hiring a Property Manager in ChicagoPros of Hiring a Property Manager✅ Less Stress & Time Commitment – A property manager handles everything from finding tenants to collecting rent and coordinating repairs.

Safeguard reached out to me when I was in my mid 60s, and offered lending notes secured by real estate. 

Quote from @Zara Massoud: Your new PM is correct and the old ones were wrong.The property manager must have your social security or tax ID number on file.