And if a family office will demand more power and ability to change things to their own liking.

The power of REI in todays market is delayed gratification  combines with the tax benefits the following year. 

The sooner you invest, the more time you have to benefit from compounding returns and property appreciation.Key Lesson #2: Leverage Financing Wisely Using my VA loan was one of the best financial decisions I made, but I didn’t fully understand the power of leveraging financing at first.

Consider working with a lender to get pre-approved for financing, as that will give you an idea of your buying power.

Like @Michael Quarles and @Kristin Flores-Brockman are saying here.Occasionally there are investors who acquired an investment property with the intent to hold and put renters in, but find some unexpected negative catalysts that will impact their ability to rent it out.

OVERALL QUESTIONSI’m wondering if there are any “gotchas” I should look out for in managing or renting either of these properties, especially regarding taxes, maintenance, or any other unexpected costs.

Cash flow will provide you with a steady income and a safety net for any unexpected expenses, which is especially important when starting out.

Shortly after they were off to the races (the power of the first deal).

Just make sure you’ve got a backup in place for any unexpected expenses that might pop up—trust me, they can happen.

We also do a walk through, set expectations for maintenance, filters, lawn, garbage and go over the function of GFCI's, shut off locations (water, power, gas).