This streamlines operations, reduces administrative burdens, and retains liability protection.

For reference I own exactly one handful (5) SFH  rentals in my hometown, all have been purchased in the last 4 years.1) buying at a discount is MY preferred way to reduce risk.

Vehicle expenses are one of the major costs to consider, so living nearby helps reduce those expenses and saves you time.

.✅ Investors - Keep detailed records of ALL rental property expenses to reduce your taxable income - helping your CPA spot additional tax saving opportunities.Imperative to use a CPA who is well versed in Real Estate tax code.My CPA is just that - DM me to get his contact information....

A cash purchase, added to my portfolio, reduces my levergage ratio on my real estate portfolio, but does not bring it to zero of course as I am not paying off existing low rate mortgages on rentals. 

I'm a small landlord with one tenant (I have two tenants total) in San Bernardino County who stopped paying rent since June 2020, making different claims--work hours reduced and that he's "having difficult times because his coworker died from COVID".

Try to reduce the number of problems you can think of to a manageable level, or instead of a 5 bedroom place maybe go a little smaller with a 4 or 3 bedroom that is generally more manageable and not pack people in like sardines.  

@Andy LanyiGood comments on how to reduce tax bill. 

If you have rental(s) or plan to get one and want to decide between long/mid and short-term rental strategies taxes do play a roll if you have high W2 income you want to try and reduce you tax burden. 

Burdened with a vulnerable and helpless feeling, I agreed to accept ABC Baltimore’s reduced offer of $95k and closed the buy—back with ABC (we still had to pay closing costs).