I personally will not expand into a market without securing a reliable team first.Service Quality Over Price – While 10-15% may seem attractive, be cautious—cheaper often means less attention to detail.

.: Someone asked for more detail on Creative Finance.

Quote from @Chris Clarkson: Initially I’m wanting to start in the local Chattanooga/North Georgia areaWould you be interested in something like this: https://www.realtor.com/realestateandhomes-detail/3621-Missi...?

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

Looks pretty detailed and might help you answer your own question!

@Thomas YoungmanThank you for such a detailed response.

If you want more detailed advice, I can provide it.You BEST option is to contact a bankruptcy attorney and find out your other options.

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

I can into this at length so if you need more details let me know but for the sake of time - it's allowed.3.

It’s been a long journey to get to this point, and we even had a failed attempt with another PMS (but I’ll keep those details to myself).