Lower-skill jobs have higher turnover, and companies that hire for these roles are always hiring and are likely not the pickiest employers (for example, the average annual restaurant industry turnover rate is 79.6% from 2013-2023 – 79.6% of restaurant employees leave their job every year).

Major corporations like Oracle, Hewlett Packard Enterprise (HPE), and Charles Schwab have relocated their headquarters to Texas since the pandemic, with CBRE noting that companies can save 15% to 20% in employee wages by making the move.Census Report Link: Texas experienced the largest numeric population change in the nation, adding 473,453 people in the past year alone, surpassing even Florida.The recent price decline follows some of the largest appreciations in the nation and presents an opportunity in a state that continues to experience tremendous growth. 

The area has seen above inflation rates of appreciation for the last three years, and there is significantly more demand for housing than there is supply, leading some companies to create their own housing for their employees.

I would say local property management company is ideal so you learn the legal compliancy, too, BUT we also have many virtual non-local employees that are amazing at their job and have learned a lot in property management even if it's not in the state they live and own their own rental property in. 

There is no right answer, but I can tell you that having a full time employee to help with maintenance has made my life so much better! 

How will you handle employees, suppliers, and contractors? 

As a business owner I will never say anything negative about a former employee even if there could be things said.

So unless you have someone good, it might be cheaper in the long run to have a solid manager who has in house employees or contracts with the trades and supervises their work.

Thank you past investor Alena Ericksen and former employee/"1099er" Tyler Robinson for sharing your experience.One specific post jumped out at me.

UtahAmericafirst 80% LTV on noo 65% LTV UtahArvest Bank AR, OK, AL, MO Bank of the west BB&T will loan on a rental portfolioBBVA Compass Boeing employee credit union California: Cal Coast Credit Union and Fremont BankCitizens Bank -Minnesota, only in-state.