Last year January MN enacted the biggest # of changes all were added details and raised the bar of requirement for Landlords, including some specifically detailing how a listing must be detailed.

That would be a helpful addition to your plan as you would further reduce your cost of living.Also don’t forget from that $600 you are planning on getting in cash flow you have taxes, insurance, maintenance, capex, and vacancy to consider.With two homes, you may want to keep that extra $20k as an emergency fund rather than spending it on a third property and then be left with no emergency funds.The $1,000 a month includes incidentals for maintenance and taxes etc.

Quote from @Owen Rosen: Quote from @Rod Hanks: It’s a good idea to have the insurance policy include both the tenant’s name and yours as additional insured.

Even when I self manage I include pm because it is work and I do not work for free.

My primary focus is on properties in Miami and the surrounding areas, including Homestead, as I’m familiar with the market here.

I would keep detailed records of my deals to include photos that I could use later when I am approaching a potential funding partner.

Not legal or tax advice, but I think every subject to purchase should include a wrap mortgage so that you create notes receivable income.

Looking more closely the higher price agent seemed to provide overall better comps though one or two that I would have considered comps at a somewhat lower price didn’t make it.the Lower price agent had a very unimpressive CMA which included a hurricane damage property sold for land value and another that was an auction, so in retrospect, I’m not too convinced that the lower price agent really knows what they are doing. 

Your friend should include as many details as possible concerning how they were pitched the investment in the prom note.

Brokers acting as paper pushers and contract writers will obviously charge alot less than a broker taking on all responsibilities including marketing.