@Hannah Meyer the one consideration not said yet I would point out, is if you thought you might want to manage other people's rentals in a few years but not now, you need to wait 24 months after getting your agent's license to get your broker's license.

Financing considerations include leverage, tax benefits, and property management fees.Good luck!

And then you have tax considerations.

Equity and Cash Flow Considerations: Old House (1960, near payoff): With $100k in equity and only $38k left on the mortgage, you’re close to owning it outright.

As a property owner you have considerably more safeguards in place with a triple net lease where a management company has skin in the game vs a simple rental agreement.

Another thing to take into consideration is that your tenants will be paying down the mortgage every year building you equity in the property.

I do know that very few municipalities won't require egress and life safety considerations.

With a 10% down payment, you can still leverage your savings effectively while keeping some liquidity for reserves and future investments.FHA Considerations: If you're considering another FHA loan, keep in mind the FHA rules regarding primary residence occupancy requirements.

Deciding whether to buy properties under your personal name or an LLC is an important consideration, especially when you're planning to use hard money and then refinance.Buying Under Your Personal Name: Easier Financing: Most banks prefer to lend to individuals rather than LLCs, especially for first-time investors.

Taxes:Capital gains taxes are always a consideration.