I will be in town Friday-Sunday for the National Real Estate Investing Summit. 

I would like to be in control of my money, so I have always gone with the highest deductible posable and maximized cashflow.  

If you have checkbook control you’ll have a bank account with a bank that has FDIC insurance up to $250k per account.  

Its already too many opportunities to fail if you are in the same town, on top of it daily.

Thanks For Texting check out Launch Control, Lead Sherpa, REI Reply, ROOR or Textedly - Just depends on volume and sophistication you need. 

Id recommend the single-family rental because you have more control and you don't need to worry about some greedy operator screwing it up 

This implies residential units can be built at lower costs and provide better return. 11) adding an ADU to SFH can make the SFH fall under rent control.

Also control the thermostats so the tenants don't jack up the heat in the winter giving you a massive bill.

I'll send a PM with my contact info, happy to connect more by email/phone or in person next time you're in town.

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.