Time sink: takes so much effort and time while working full time.Option 2: Buying Rental Property in a Cheaper MarketPros:Time to cash is immediate is about 40 days from closing time.Landlord friendly: which means eviction and rent control in LandlordDiversification: Investing in a different location spreads the risk.Property Appreciation: Some emerging markets might offer significant appreciation over time.Established Rental Market: Easier to find tenants in established rental markets with a high demand.Potential to build an ADU: i can build on the property land.

Unless you have a very high maintenance tenant or tons of old plumbing/mechanicals you can do really well by having an 'emergency list' of really good handymen, plumbers, hvac tech, etc.

Quote from @Mitesh Patel: Hello,An emergency electrical issue affected the plumbing lines too, and I am quoted the below price for repairs. 

My focus areas include multifamily properties, buy-and-hold strategies, and fix-and-flip projects in emerging markets.I'm seeking advice from experienced investors in this community regarding promising states and cities for multifamily investments, fix-and-flip opportunities, and buy-and-hold strategies.

Are you ready to deal with tenants, handle emergency repairs, and manage the day-to-day running of the property?

I like a HELOC for an emergency fund, as well. 

In the mid-2000's, we saw Tulsa's emerging real estate market and had the opportunity to expand into the market where we have formed our division, TMC Property Management. 

It is not our job to subsidize family emergencies or let someone buy a home when they already committed to a lease term.

This is where I can not tend to maintenance, or emergency calls from tenants.

Mitigate your risks, get educated, get some experience, then determine your targets for growth into emerging markets."