You the investor and owner of the properties will care about your investment the most, not the agent, not the contractor, not the property manager (they can screen tenants but they still get paid but the repair costs are being deducted out of your rental income and more costs if you need to evict a tenant).I've heard great things about upstate NY and would consider looking in that area or within a 2 hour drive of where you live (not sure if you're near NYC).

Staying as liquid as possible might also help you handle CapEx, taxes, small repairs, and so on.Let me know if you have any questions—I’d love to help in any way I can!

I just listed my last property for sale, a fourplex in Pocatello, because now I focus more on commercial RE and syndications to be a true passive investor and not deal with tenants and repairs.

I have extensive experience there doing about 500 deals , thousands of repairs/ renovations and move in and outsAll the best 

Account for all costs, including closing fees, holding costs, and repairs.

This simple update has big implications for property owners, allowing small repairs and maintenance to be handled more quickly and affordably.

You can get a HELOC if there is equity in the property most likely, which there should be since you own it in cash, but you will just be decreasing your pay out and then may end up short in repair money, depending on how much it is worth.

This could be very difficult if you are going to self-manage, as you will be turning units every year and dealing with a lot of repairs.

Be prepared to face fluctuations in the market, unexpected repairs, and tenant issues.

For BRRRRs, make sure to focus on accurate ARV and repair numbers.