I haven’t personally bought property out of state, but I always tell my out-of-state clients to hire a property manager for their first investment.

So I bought this fixer upper for 65k, had a low monthly mortgage, used the extra money to rehab out of pocket for the next three years.

As I have 'bought back my time' for the most part, I can start volunteering.

The last 5 deals I bought were all basically move in ready, bought only at a slight discount after deals fell through. 

I bought a washer and dryer from ShinePay with their spark installed in 2023 and it was working well for a year, but one day it just said my account was deleted without any warning.

I'm in the same boat for reference- I bought into the "buy now, refi later" idea and am sitting on a 7.375% on my latest property acquisition and a commercial line of credit I have is at prime + 1 (so 8.5%).

Those that could afford the huge mortgage bought a primary, built ADU and did STRs or MTRs in S.F.

Although I did buy 37 doors in two props this fall  but its the first time i tried MF  and it was unique circumstances.   27 unit we bought for at least a million under market so turn around refi pull cash out and let me partner run it.. 

About 90% of my coaching students bought properties and increased their net worth on average of $100,000 the year we worked together.

I just bought a $400k STR and the break even point with 25% down is $54k with a 2% sinking fund and 3% maintenance built in.