I have never pulled a permit for a water heater swap, know no one that has ever pulled a permit for a water heater swap, ever seen or heard about one getting red tagged for no permit, and have never had a plumber recommend getting a permit.

If you have a 20 year timeline, I'd probably recommend B areas closer to the city or in the better school districts in the suburbs for the highest combined ROI over that time period.Right now you can expect to find decently turnkey multis for about $60-$125k/unit usually all at least hitting the 1% rule in that range.

I appreciate your proactive approach to connecting with fellow investors.To answer your questions:• Introducing Yourself: I recommend crafting a brief yet detailed introduction that highlights your unique experience and the markets you serve.

But shoot me a PM, I got a few recommendations. 

I definitely don't recommend renting to a friend.

Thank you for advising the areas you recommend. 

Highly recommend you DM @Samuel Eddinger and buy him lunch to pick his brain!

., property management companies aren’t legally required to carry general liability insurance, but it’s highly recommended for protection against bodily injury or property damage claims.

If you're open to expanding your search, I also recommend checking Columbus OH - lots of deals that still bring positive cash flow and great appreciation potential.

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.