@Fred Robertson, I was actually reading a little about this sort of thing today and it is absolutely the kind of thing where you get a CPA or certified financial planner involved!

If you don’t have a certain amount of funds set aside for these situations as well as your portion of closing costs and some extra reserves for once you close then you’re likely not financially ready to be buying things.

(i.e. a college student with a huge passion for real estate and financial freedom)

So, if you fail to apply the correct assumptions to a property, your expectations won’t be met and it may even be a financial disaster.We use the following to rank Property Classes, in order of importance:Property Tenant Pool: closely linked to location, but not always.Property Location: closely linked to tenant pool, but not always.Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.

My ultimate goal is to build a portfolio of cash-flowing properties to achieve financial freedom.I’m currently seeking mentors who can guide me through this journey and help me avoid common pitfalls.

A STR is a completely different animal in my opinion, in that it requires more work and much more compromise, but financially is worth the effort. 

The issue with remediation/removal of lead-paint components is the financial means of the landlord. 

Your financial background is a huge asset, and it’s great that you’re starting locally in Milwaukee while keeping an eye on future expansion.If you’re looking to connect with like-minded investors, the Rental Property Association of Wisconsin is a fantastic resource for networking with rental portfolio owners, accessing legal resources, and finding contractors. https://www.aasew.org/For mentors, funding sources, and flippers, the Milwaukee REIA is another great group to explore. https://www.milwaukeereia.com/I’m a member of both and find unique value in each—maybe we’ll cross paths at a future meeting!

Stay disciplined, focus on cash flow, and you could achieve financial freedom in 5-7 years.Good luck!

It's the same skill set but the financial returns and community impact are exponentially greater for everyone.There’s no reason that we can’t and shouldn’t be the ones revitalizing our communities instead of outsiders OR worse nobody at all.There are less opportunities in smaller towns and who is in the best position to truly understand the needs of the community?