Ensuring a solid lease agreement and security deposit will help mitigate this.

After a $500 plumber bill I no longer wish to continue stressing out about this business; at the beginning (10 years ago) it was fun and challenging, now, after seen how we are the ogres (landlords in general), the outrageous government response with the eviction moratorium during Covid, the raise in taxes and insurance, service people who charge you more than a brain surgeon, the fact that this country is becoming dangerously socialist and the tenant drama I finally decided It is time to look elsewhere for investments.I just cannot find any information of what to do when I sell my properties.

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

Seasoned investors typically have contingencies in place and work to diversify their portfolios to mitigate these risks.4.

Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.

It has come up quite a bit, still is a bit dangerous but appears to have plenty of room for improvement and appreciation.

The background check is supposed to identify the amount of risk, then you determine whether you can mitigate that risk or not.

@Emeka Okeke, while it can be debated, in my opinion, by far, one of the more simplistic ways to take action and learn the ropes of real estate investing, all while mitigating risk, is to house hack your first deal.

Selfishly, being able to respond fast, mitigates damage to the property (frozen pipes, mold!)

It will help mitigate some of the risks that you are hesitant about.