I have a close friend who constantly drives up to the white mountains so can definitely understand the draw.

DealMachine is a powerful tool for real estate investors, especially for finding off-market deals through driving for dollars.

Drive around and called the realtor How did you finance this deal?

Since it’s a new build, I was able to negotiate some great perks, like a 5.875% interest rate, no closing costs, a fridge, blinds, and even a backyard firepit.Pros:Good school districtLow interest rateMinimal CapEx and repairs (because it’s a new build)Low insuranceHigh-quality tenants (due to the school district and being a new build)Cons:Lots of new builds in the area, which could drive down prices and increase vacanciesThe Numbers:Price: $290KInterest Rate: 5.875%Down Payment: 25%Monthly Mortgage + Insurance + Taxes + HOA: $1,480 (I got really low insurance since it’s a new build and Alabama’s property taxes are low)Property Management: 10%Rent: $1,800 (this is under market because I wanted to rent it quickly—most units in the area were sitting vacant for 100+ days.

Agents who generally take on small portfolios to manage are only doing so because they're not great agents to begin with.First thing first, I would consider either driving by the properties or contacting the tenants and asking them if they know what's going on with the agent.

Report it to the credit bureau as a loss - and they won't be driving a new car, getting a new phone, renting/buying home until they settle with you. 

It ended up okay, but it sure taught her to slow down and get comfortable digging deep into the due diligence.Here in San Diego, I’ve seen the seasoned investors always double-check with a well-regarded local title attorney..I’ve heard there are a few firms around downtown that specialize in smoothing out odball title issues..or a trusted property manager who knows what unique fees to expect.

I would be self managing the property because I know the area well, have local connections to help out if in a pickle, and could get there in a day drive if need be. 

Also, an 8min walk vs 8 min drive is a big difference in the world of student housing. 

He was knee-deep in a 1035 exchange that felt like trying to translate legalese while juggling chainsaws.