Do you live close to that?

Are you going to fix it up before you rent it out? 

I have two other rentals in the area and I use Alabaster by Sherwin-Williams for all my rentals to make paint touch ups easy, so I plan to paint this one the same. 

I am a handyman with a lot of experience in residential and commercial maintenance, so I would like to be close to my first investments so I could take care of the management and repairs myself.

And, if you don't want the best candidates for purchase but just want to exercise that authority you think you have by being the owner, that is up to you.

@Devin JamesNothing in life is typically handed to you and nothing is typically get rich quickThe most successful people I know show up everyday and grind it out- they don’t let a failure destroy them - they get up and keep going.If you also read all the great business books etc they all say the same thing - be humble, be consistent and have a plan.

@Tony Thomas no advantages that come even close to covering all the expenses and paperwork headaches!

So, make sure the iPostal1 qualifies.FYI: when you do set up an LLC, do NOT use your address or list yourself as the agent for the LLC - defeats the goal of anonymity!

I initially planned on doing month to month lease for incoming tenants just in case I need to let them go if they end up not being the right fit.

Congratulations on the first rental and all the knowledge you have gained from it to set you up for the next property.