Having reasonable expectations, hiring a local professional (Realtor or PM), doing your research, and doing everything right (i.e. pro photos, professional design, good renovation, proper amenities and location, etc) are the keys to success in 2025.

Since I'm taking such a cash hit, I asked the sellers agent if they would be able to designate some portion of the sale price ($200k?)

Hey @Joy Daniels, I read everything I can all the time.I read a few blogs that go over products and some design.

I will also be doing all the cosmetic things you can think of: paint, flooring, bathroom reno, kitchen reno, so I am open to carpenter or design suggestions.  

I would designing, renovating and managing the property.

Second, in terms of asset protection, LLCs are not invincible, but I think what many don’t understand is that they are not designed to completely shield your assets from liabilities, on the contrary they are designed to contain and isolate liabilities. 

I know REIGuard is easy and designed for investors.

Additionally, do you all generally use a smaller income criteria if the rent is inclusive of utilities? 

I plan to put a $600 utility cap in the lease.

My role with this MF company is to manage the design, construction of the GC's and opening of the properties.