Bigger Pockets is a great place to learn and connect with fellow investors.If you’re looking to invest long distance, I definitely recommend building your core-4 team.

I invite you to perform the exercise and find what your cap ex allocation should be.certainly $50/month for maintenance/cap ex and misc is not enough and this property is definitely cash negative when properly allocating for expenses.  

Hey Kevin,No, you are definitely not crazy!

@Andreas MathewsThere is definitely availability and demand for property managers.

There isn't enough information in here about the current state of the house to be able to advise you, but I would think #3 is a definite no as it seems unnecessary from a cost perspective although that market has scale to accept it.

I’d love to connect & discuss my goals further, especially since you specialize in long-term, turn-key properties, which are exactly what I will be focusing on as an investor.I’ll definitely check out the podcast you shared to learn more about turn-key investments.

The equity gap can definitely be a challenge but there are still deals out there - typically with homes that were purchased in early 2022. 

I just haven’t had much experience with underwriting those types of properties, so I’ll definitely need to dig into that more.If you have any advice or resources for underwriting smaller multifamily deals, I’d love to hear about it.

Definitely a chunk of change I don't want to pay, but having my cash back out to do another deal might be worth it... 

I do always recommend going with a property management company because I'm sure you definitely do not want to take 2AM calls from tenants about clogged toilets!