Great place to meet other investors, agents, property managers, and contractors.

Consider starting with house hacking to reduce housing costs while learning property management, or explore mid-term and short-term rentals for steady or higher income.

You’ll need to treat it like a business—handling tenant management, accounting, legal compliance, property maintenance, and more.That said, when done correctly, it’s a powerful tool for building wealth!

Quote from @Krishnan Iyer: Hey Tom, I use Stessa to manage all my income and expenses (bookkeeping) for all my properties.

Consider reaching out to a local Rental Owners Association to connect with experienced hosts, gain valuable insights, and access resources that can help you navigate property management more effectively.

Let's talk,DanIve actually been looking into buying a condo myself as an investment, I have a few rules, needs to be with both good hoa management & relatively cheap fee (bellow $600 a month) needs to be in area where I’m not competing against other new construction apartments, needs to be an area where even townhomes are so expensive you are not competing, I.e. upper nw, nova, Bethesda etc. needs to be 1990’s or newer in most cases.

I used Hostify and you can work it into the management system to figure and charge all of that for you.  

Because you live on the property, management will be easier.

I definitely wouldn’t mind the help with my rehabs and getting started with property management.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.