.: Quote from @Andres Murillo: Quote from @Pearse Cafiero: Hi Everyone, Trying to figure out the best way to go about getting my first rental property.

I would figure out what your goals are. 

The only figure I can’t determine is the monthly mortgage because interests fluctuate and the down payment.

That'll help you figure out what direction to aim in before speaking with a bank to figure out how much you can qualify for. 

If learning is a lifelong passion of yours, Keller Williams Realty is know for it's amazing education and growth opportunities.The years pass quickly...figure out what you want the next 1, 5, and 10 years to look like and go for it.Best to you!

Right now, I’m especially interested in:How investors are finding and structuring deals in today’s marketCreative financing strategies that actually work in 2025Building strong, long-term relationships in real estateI’d love to connect with others who are in the trenches, learning, growing, and figuring out the best ways to build wealth through real estate.

Before you invest in cost segregation, you need to figure out whether it will help you.

One of my goals is to go through my past tax returns, and figure the ROI my rental properties with taking into account the tax savings (I typically calculate the ROI on net cashflow at the end of the year)I have a W2 so I generally aim to maximize my pre-tax accounts - 401k, HSA, IRA to a backdoor Roth IRA, 529My "losses" would be passed forward since I don't qualify as a RE professional nor have active RE losses.

At the same time you're figuring that all out, get your brother and friend under a lease, or at least, a written agreement both parties can agree on.

@David LewisRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?