Quote from @Rachel Jane: First post, no idea what I’m doing, lolMy grandfather passed away and left me his condo, which is fully paid off (and located in a seniors residence) It’s worth approx $500,000 (CAD).

When choosing a location for your first rental, it’s great that you’re considering factors like crime rate, population growth, employment rate, and price-to-rent ratio—those are all key metrics.

Actually we have divested 4 of our 8 Self storage locations to get into a better LTV position versus my view of the economic world.  

Where is the property located?

Additionally, they should be helping with taking video walkthroughs of the location and the property, estimating renovations/scope of work, helping you learn neighborhoods, building your real estate team, etc.

if you look at forced appreciation you can do that as a strategy but you are still limited by market supply, market economics, property ages you can't control. the strategy we do Is build to rent development where you build an asset 25% below market through infill site selection, land entitlement which boosts property values, as well as refinance once the property is stabilized. new construction you can't build something unless it appraises 25% below market anyways. so I think the majority of biggerpockets is focused on the strategy you mentioned but part of what I try to do is show other strategies that involve land, new construction, build to rent development, land development, land entitlements, smart asset design of smaller floor plates, infill locations where equity and values are higher, etc. we do this in Columbus Ohio.

Learned that I needed a realtor that was local to the property location.

Number looks good enough to me but I just worry about the location tbh.  

The home is in a great location in Big Bear Lake, CA close to the Village and Ski Slopes.I have an array of emotions being scared of failung and excited all at the same time.

I’m open to exploring those locations since they aren’t too far of a drive.I’m leaning towards a SF property because I have $10,000 to put down, want to stay within my budget, and being new to this, I’d like to start small.