In other words, agencies are always willing to hire more agents because they are not paid a salary, in most cases.

@Raul Velazquez Jr Everyone is different - some with an accounting background or general knowledge about accounting can handle tax prep on their own with one, maybe two properties.Others like to put systems in place and hire out right away, to free up there time to spend on more valuable tasks and actions.If the latter describes you, I would say start speaking with real estate savvy CPAs ASAP.

@Jay Hinrichs I hope someday I can hire someone to handle the bills!

Question is for 2-4Unit property an increase from $1500 to $2500 Kyle you can hire an attorney to handle the process for you.

You set this up yourself or hired a FB ad expert?

It seems like there's a lot more room to make money by purchasing a rental out of state, where of course I'd need to hire a local property management company to oversee the day-to-day, etc.Assuming the right property can be found, it can't just be as easy as ballparking roughly 10% of rental income to go to the property management company... can it?

Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.

Obviously, you’re not planning on hiring a bunch of agents.

Also how do I generally gauge how much it cost to fix/reno a NY property without hiring a contractor?

Consider what it would cost you to hire out all the work necessary to make it rent ready.