I always suggest that for new investors, as their is a wealth of information and resources there. 

* Finally, could you recommend any valuable tools or learning resources?

Refer to your state, city and county resources for any required items, or recommended inspections. 

Lastly, in this example, if you are only able to collect rents but have no equity on the property - that is worse for the investor than owning the property.

So I told my tenants I wanted to switch to RentRedi for payments because it was more streamlined than collecting checks and such but then they would be forced to pay the $1 transfer fee.

I’ve seen folks pivot their plans quickly if they discover one city has friendier permit processes than another.Great to meet you @Christopher Jennings - I see that Pat has already commented, she's a fantastic resource to have in your new backyard.

I find it's very personal, and dependent a lot on your goals, resources, risk tolerance, location, experience, etc.

With the right resources and preparation, you’re set up for success!

A handy search bar in the upper right makes it easy to find previous discussions, blogs, podcasts, and other resources.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.