I'm working with Michael White, Real Estate Sales with Midtown Property Management in Harrisburg, PA.

Since we will be investing remotely, we plan to work with a property management company to oversee day-to-day operations.Does this sound like a solid strategy for a first investment property?

The tenant supposedly had complained for months to the property manager that the furnace was not working.

We're a turnkey provider in Little Rock and Memphis markets and we provide management services as well.

Buy box: Location: Approx. 30 min drive to Boston Heights, for workNeighborhoods: Decent walkability score - not far from shops/restaurants/trendy neighborhoodsIdeal tenants: Close to hospitals/universities/schools for professionals/students/familiesBudget: $175-250K - Buying w/conventional loan, 5% down/ approx 20K reno.Property type: MFH 2-4 units - preferably side-by-side, with a yard we can fence for our dogUnits: 3+/1+ - better if 1.5/2 bath per unitTimeline: Plan to live there for 2 years, but possibly only 1 year if we find another investment opportunityGoal: Focus on appreciation - would like to see cash flow in year 2-3 (the year we move out), including overhead (Vacancies, Maintenance, Utilities) and budgeting in PM if eventually we don't manage ourselvesValue add: Opportunity for some forced appreciation, but not a full reno - cosmetic upgrades and updating kitchens/baths while we live in one unit.

That strategy actually makes your lead management team much more efficient because it outsources the mind-numbing tasks to the robots and lets the humans focus on what humans do best. 

My wife, on the other hand, didn’t seem to care.Today, we run a real estate agent team and manage our 26 rental units together.

My Wife and I manage the properties, we share in this approx [hours weekly].

I also managed to creatively acquire two apartment buildings with $0 down about 4 months ago, one of which currently has a water main Leak under the slab and two of the residents have been without water for over a week, but that's another story for another time... 

That means creating a clear budget, forecasting cash flow, and maintaining a detailed financial model that tracks both the current and future performance of your portfolio.Tax Optimization & Risk ManagementBeyond financial clarity, strategic tax planning and risk management are essential to safeguard and grow your real estate investments.