I am also a project manager and a architectural designer for a real estate developer in NYC. 

These syndication can provide an 8%+ cash-on-cash return - providing investors monthly cash flow - and a 15-20% IRR over the length of the project.

Out-of-state investing makes the most sense for me—it’s impossible to cash flow anywhere near me, and moving wouldn’t make sense because I wouldn’t be able to earn the same wages or find the same kind of jobs.Before this purchase, I already owned two properties: a long-term rental outside Houston, Texas, and a short-term rental in the Sierras in California.

This.Also, if you were the tier 1 worker bee at a relocation company who wants to get a family housed, happy and as quickly as possible, would you accept the word of a guy who sells a course to new-to-MTR investors that "here is Eli; please send him all of your business.

The 5-10 it gets heavier and a lot busier, and 10-15-20 it really is untenable to self-manage especially if this is not you main business like a person buying their own rentals and building it like a small business. 

I am in the Scranton/Wilkes-Barre area and I am a new landlord, having purchased my first rental property about two and a half years ago.

Hi,Thanks everyone for the input.I just checked back and a 1099 was issued, and we paid the taxes.

And a big Welcome to BiggerPockets.  

Of course they complained, and I said that I would replace with a gas hot water boiler and a seperate gas hot water heat, so they would stay. 

A few small touches, like high-quality linens and a welcome guide, can make a big difference.