Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

Large deposits are nice, but very difficult to actually get access to escrow funds in the event of default.

I will take this into consideration and if possible I'll visit whenever I can.Also, thanks for the connection with Elenis, I will reach out and maybe we will work together.Do you have properties in the area?

Nice way to house hack!

If it does you have zero asset/income, a much larger debt secured by your personal residence, at just the time you probably also lose your job due to economic conditions, and all those nice folks teaching you about sno ball, infinity, you’re your own bank, etc., will be long gone.  

Worked out nicely for all involved. 

Because I had already purchased  the house building courses I got a nice  discount  on thw course I wanted. 

It was nice to see you actually tried to answer the question.

He was a really nice guy, but didn’t seem to know many of the details regarding fees.