Here are my two cents...I recommend starting in a market with strong fundamentals, such as steady population growth, an influx of major corporations or large businesses relocating to the area, an affordable cost of living, and high rental demand.

What kind of monthly costs should I be expecting, and what kind of value/tools should I expect to receive for those costs?

Given the latter costs, a corporation can be the best solution only if you buy multiple properties.

If you ever want to chat or brainstorm strategies, feel free to connect!

If private companies continue to provide the insurance, I suspect we will see further increased premium costs which will need to be reflected in the rents tenants pay (all tenants: LTR, MTR, STR).  

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Your total project cost is only ~ $143k. 3c) Your interest rate is probably going to be in the low to mid 7s, at least4) All states/areas are different, but I usually see with my CFO clients that their property taxes are higher than their insurance, with taxes often 1.5x higher than insurance.5) Lastly, I saw PM fee of 8%, are you paying someone else to manage this?

Hey @Antoine C. shoot me a dm and I will send you our free guide to Memphis zip codes, it will help you begin your search!

Feel free to reach out if you want to connect, I have some people I've JV'd with in the Texas triangle.