Between the equity on the condo and the extra cash you have, you can purchase 2-3 homes. 

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

If possible, consider a duplex or single-family home with extra rooms instead, as they offer better appreciation and flexibility.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

You either have to earn extra money via sweat equity (working as your own PM or do the renovation work), or you have to be ok with a negative cash flow.  

McKinney is thriving, but so are other parts of North Texas, and a broader perspective could reveal other great opportunities.Here’s what I’ve observed managing a significant number of rentals in the area:Bedrooms and Layouts:3-bed, 2-bath homes consistently attract the largest pool of tenants and have the highest occupancy rates.4-bedroom homes have grown in demand, especially with the rise of remote work, as tenants look for extra space to use as a home office.Square footage is less critical than number of beds and baths.Supply and Demand:McKinney’s growth is driving demand, but the quality of the location matters greatly.

I was drawn to the accessibility of their projects without needing to be a FUND, along with the extra benefits that come from their large-scale output.As an investor, my priorities are finding good deals, investing in landlord-friendly markets, and transitioning to new construction properties.

They don't deserve my money if they can't perform those tasks. 

I’d plan for extra amenities like special decor or concierge services. 

It’s all about what will draw guests in and make them choose your listing over others.2️⃣ Standout Amenities: Rentals that offer something extra, like a hot tub, game room, or eye-catching design, often attract more bookings and higher rates.