We use DealCheck to underwrite deals and QuickBooks Online for everything related to accounting and budgeting.

We're willing to live almost anywhere in the greater Sacramento area based on what we can afford, provided of course that the property is in a decent neighborhood that has a good chance of attracting responsible tenants.As for budget, I believe we could get a conventional loan for properties up to $600k, but my strong preference is to find a distressed property (or seller!)

My goal would be to start within 1-2 years and get some more experience with the construction process, project management, financing/budgeting, etc.

New agents may struggle with periods of no income while waiting for deals to close.Solution: Budget wisely, build a financial cushion, and prepare for slow months.

@Yael DoronIf you're working with a $150,000 budget and aiming for high ROI through rental income, consider nearby areas around Phoenix that still offer affordability and growth potential.

Obviously there are properties and investments that are exceptions but since we're discussing nearly unlimited budgets, my first look for a legacy estate would be begin in other areas.

Similarly, homes that have unusual layouts or less traditional features often benefit from full staging, as it helps buyers envision how the space can work for them.That said, even in more budget-conscious markets, full-service staging can still provide a significant return on investment, especially if the home has been on the market for a while or if it's empty and lacks warmth.

I recommend you budget 5% of the gross rent (for the whole place, even what the rent would be if you were living in it as a tenant) for repairs and 5% for capital expenditures.

The financing will then dictate which markets are and aren't within your budget.

And don’t forget to know your budget.