Ever since that conversation I went on a deep dive of research and studying to figure out how to accomplish these wild ambitions of mine.She helped me get my first property when I was 24 years old, which we ended up selling after a few years and using the revenue to purchase another property.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

I have been exploring viable options as well as doing my due diligence, reading, and research to come into a deal as prepared as possible. 

I have focused my research on house hacking due to the lower upfront capital requirements with an FHA loan.

If cash flow improves, it might make sense to hold onto the property while expanding your portfolio with new acquisitions.Reinvestment OptionsIf you sell or pull equity, focus on markets and property types that align with your cash flow goals:Out-of-State Markets: Research markets with strong rental demand, favorable landlord laws, and higher cash-on-cash returns.

The other area I'd consider is Cleveland after listening to one of the BP podcasts and doing some research on that area.

So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

because we have a strong demand for them and great str laws.The Triangle is visited year-round by travelling professionals in the research, medical, IT, and education space.

So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

@Andreas Mathews admirable, but make sure you do some research so you understand what a PM can make.Starting your own PMC business will require 75-150 doors to make a decent living, depending on gross rents and your fee structre.Working for a SFR PMC as a PM, will require a RE license and you usually get paid a percentage of the gross rents the portfolio of owners/properties you manage generates.