Just as I was scrambling to figure that out, one of my tenants also moved out, leaving me with thousands in repairs and a vacant unit at the worst possible time.I had zero reserves left because I had just paid back the money I borrowed to close.

I've got a lot of problems with the Mayor, but this, I feel was a great move.

My tenants moved in September 2024and has been defaulting in paying rent from November 2024.

So when you build your pocket neighborhood, which is an interesting concept, what's to stop an undesirable person from moving in.

I have seen all sides of this equation, self managing my own properties locally, but moved with the Navy 1000 miles away and managed the same rentals from afar, and had friends here in Memphis that had 18 properties and had them all with PMs with varying levels of success, some bad and some great.Self-managing brings about an additional level of responsibility that most of the time is fine, but that is not what you hire a PM for.

A lot of things can go wrong and there is more moving parts.

Are you willing to move and rent out the house you are in now? 

They charge $1250 for properties under $1mm for a 1 to 1 exchange and if you have another property to move your funds into, they charge $550/additional property.

I lived in Michigan for five years before moving back to California, so I’ve seen firsthand how the market has evolved.A few things from my experience:•BRRRR still works in Detroit, but it’s not as easy as it was a few years ago.

Thanks to everything I’ve learned from the podcasts, books, and this community, my wife and I currently own:A triplex in MaineA single-family rental in San AntonioA single-family primary residence in Las Cruces, NM, which will become a rental when we move in a few monthsFor context, I’m an active-duty Army officer with about 12 years left until retirement, and my wife works for a university in Boston.