In my market—Cincinnati, OH—most property management companies charge around 10% of the collected rent, plus a fee equal to one month's rent for finding and placing a tenant.

If you have any tips, resources, or advice for someone just starting out, I’d greatly appreciate your insights.Some specific things I’m working on right now:* Building a strong buyers list.* Identifying motivated sellers and honing my outreach.* Learning the ins and outs of structuring win-win deals.I’m open to partnering, collaborating, or just grabbing coffee to exchange ideas.

Hi @Nicholas L.We are sourcing our deals through a combination of resources.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

You can use it for rent collection, leases, tenant vetting, the list goes on. 

I am just starting out on Bigger Pockets and am excited to review all of the resources available.

Tired landlords have been the sellers in most of the situations, but also kids who inherited a probate house, and don’t have the resource to fix it up.  

cite=61.34.0202. https://leppardlaw.com/criminal-law/fraud/equity-skimming/3. https://le.utah.gov/xcode/Title76/Chapter6/76-6-S522.html4. https://www.justice.gov/archives/jm/criminal-resource-manual-882-sample-indictment-equity-skimming-18-usc-1575. https://www.abajournal.com/news/article/4_new_york_lawyers_indicted_in_alleged_1.4m_equity-stripping_scam6. 4 New YorkLawyers Indicted in Alleged $1.4M Equity-Stripping Scam7. https://archives.fbi.gov/archives/boston/press-releases/2011/walter-bressler-enters-guilty-plea-in-mortgage-fraud-equity-stripping-schemeWalter Bressler Enters Guilty Plea in Mortgage Fraud/Equity Stripping Scheme8. https://scholarship.law.umn.edu/cgi/viewcontent.cgi?

So, you invested $10K, and now you've collected $116,161.92, a "profit" of $106,161.92!

My strategy as an investor has changed over the years, today I look at real estate more like a collection of properties and less through the cash flow lens.