If you have any insights or stories to share about the markets I’m considering, I’d greatly appreciate it!

You’ve got this, and I can’t wait to hear about your first rental property success story!

Property TypeUnderstand the different types of multifamily properties:High-Rise: 9+ floors with an elevator, often urban.Mid-Rise: Smaller than high-rise, usually with elevators.Garden-Style: Low-rise apartments in suburban or rural settings.Walk-Up: 4–6 stories without elevators.Manufactured Housing Communities: Mobile home parks where land is leased to homeowners.Special-Purpose Housing:Student Housing: Designed for college students.Senior Housing: Dedicated to older adults.Subsidized Housing: Affordable housing supported by rent and income restrictions.3.

I know a lot of CA investors doing MTR/STRs to cash flow in-state and OOS but it's a lot more work, not mailbox money.I hear stories of OOS investors losing money in the Midwest, the worst being a CA investor buying 3 apartment Class C complexes in Missouri who finally sold it 3 years year with all the repairs and tenant issues after changing PMs which didn't help.

I also have separate damage protection from my channel manager (OR), but you can get it from Waivo and some others. ive just heard too many horror stories and i bake the price of coverage into my rental costs.

I say a Pm should do the best job they can because it's there dang job, end of story.   

Quote from @Andrew Baldwin: Thank you for sharing your story.

The moral of this story is to have good home owners insurance!

A tenant complaining online might indicate that the property manager handled them appropriately, so be sure to ask the manager for their side of the story.7.

SFR houses will only appraise based on comps.So unless someone was paying cash you can't get more than they appraise for.The camp ground is a different story.