The second Property Management company I never could understand the payouts and the payments was never correct.

When used correctly a HELOC allows you to do multiple deals over and over again.

Getting the federal return correct is the most important and with owning two properties, there could be some positive tax benefits.

Your EMD should still be with the title company if it was handled correctly.

When you go to sell the property, if you produce a certificate of inspection for the wrong number of units, buyer unless you are giving them a great deal and they will throw caution into the wind, would insist on the correct designations.

IF you decide to move forward in Memphis, recommend buying the first one turnkey to get you going.You'll learn a lot about rentals and the market with the first one.THEN, if you like results you can look for agents & PMCs to help you buy more and save the 20-30% markup you mentioned.Recommend you also read below info to set your expectations correctly:_________________________________________________________________________We think the Midwest is a GREAT place for OOS investors to consider!

This is fun if you’re tracking correctly.  

Yes, it can be done and it can be done correctly.

But with that many less people in LA county now than 2020, you'd expect the decrease in demand would be enough to correct the supply/demand imbalance locally... 

@Kenneth Bell you are 1000% correct.