@Yooni Choi managing from out of state (OOS) with ZERO previous landlord experience - probably won't go well.You WILL make a lot of mistakes that will cost you money.

We have 2 San Antonio sub2 deals that are turn key homes and only require about $20-25k to close (assignment fee + closing costs).They're a great option!

Since few lenders have the stomach to do this, it’s also been a great competitive advantage for our business.This horrifies almost every private lender I know.

Yes and a few bookings on Airbnb cost your ranking on Vrbo.

I believe each contract cost $600 to $800 for each state. 

Focus on key areas first (like floors, walls, kitchen, or bathroom), which may help you handle the costs more gradually, even if it means moving in furniture or updating fixtures down the line.Also, since the tenant left it in rough shape, be sure to document all the damage (photos, receipts) in case you decide to pursue reimbursement through their security deposit or in court.

@James Boreno You’ll likely owe taxes, but don’t forget to account for your adjusted cost basis, which factors in the original purchase price, depreciation over 10 years, and any capital improvements.

It is going to cost more than you expect, and you'll have that "Oh, crap!

Not only is it a costly and hasselsome process to establish such, but at end it's an association of 4. 

I think its a scary feeling, like the cost of entry is too high.