Even competent 3rd party management can only mitigate, not necessarily address many of the issues that arise when owning lower tier properties & population growth alone is not a magic pill. 

Investing in a property that’s already renovated, rented, and professionally managed could allow you to start generating passive income immediately without the added expenses of house hacking.What’s most important for you in this first deal—cash flow, appreciation, or long-term stability?

My wife and I started managing more properties for others as word of mouth recommendations started and we started to use the management and arbitrage cash flow to acquire our own properties and fund the BRRRs we were working on.  

We run into this especially at out parcels in grocery anchored centers, and our users generally can't make a ground lease work for the business case so the next best thing does tend to be the BTS or we often do Reverse BTS deals where the majority of the building design and management etc is done by the tenant. 

Once we identify a location that meets our criteria, we network with builders, property managers, lenders, insurance companies, CPA's, attorney's, etc. that service that area to have the entire team already established you need to be a successful investor regardless of your physical location or experience level.

Ensure your projected cash flow covers expenses, including higher insurance and management fees.If you have anymore questions, shoot me a DM or email!

The only other question I would suggest is that you do engage a property management company to review your quad and review your monthly financials.

From there, you have to decide whether you want to be a landlord or hire a property manager.

It puts a face to management and allows to open doors for repairs if need be and makes them aware of who owns property now.

My first thing is to start built relationships with realtors and property managers.