Apparently, because rates increased here so astronomically in the last 2 years, the insurance industry believes their numbers are correct with the risk.If you have the correct coverage @Marc Shin, you should be covered (although you should also have budgeted or baked-in costs for minor issues/damage).

Diversifying geographically can also reduce risk and increase long-term returns.For example, there are several markets across the U.S. that are ideal for new investors because they offer affordable entry points, reliable cash flow, and strong economic fundamentals.

A coach makes sense if you are 23 and want to increase your skills enough to earn a living with the sport.

In beach markets, in ground pools tend to increase revenue 20% or so. 

Slight Update: After speaking with more BP members, I’m increasingly leaning toward making my first purchase in New York—a 4-unit rental property where I’d be my own landlord.

The margins are tight which increases risk.

It’s worth considering the trade-offs between the stability of income and the increased oversight and hoops you'll have to jump through.

But, for instance, I sent them a notice of rent increase effective February 1 and needed them to confirm that they have accepted the new payment terms through our electronic payment system, and even after repeated notices, they are not responding.

There are a lot of ways to crash and burn, so increasing the odds of succeeding long term should be your highest priority. you can always sell your local assets once you're comfortable managing rentals and ready for a market that better-suits your criteria. btw, kudos for being self-aware of your limitations.

Though I expect that to increase in the future when more ADUs are constructed.