Because buying a one-off in those areas and then paying property management is going to cut or kill your profits.If you are doing OOS, you should focus on more turnkey or rent-ready over value add because as a new investor, you are going to lose money on the remote rehab.With a prior bankruptcy, an FHA loan, and 50k from someone else or inheritance, I would think a little more solid about how you want to invest.

I agree that a walkthrough bedroom will usually not be counted as a bedroom by the renters OR most people needed in the buying process. 

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

The Act, signed into law in October 2023, is more about empowering renters by giving them a chance to buy their rental properties when the landlord decides to sell.

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

My wife and I are still in the 'learning phase' as real estate investors, but we know for sure that in the next year (a) we will be converting our primary residence in to a rental, and (b) buying another house that will be our primary residence for 1-2 years so that we can qualify for an owner occupied mortgage.

Mainly buying up LTR'S for cash at a deep discount. 

Hi,As the title states, I have  around 100k saved up and am looking to buy a long term rental property (preferably a multi family).

Have your eyes wide open - your first few buy close to home so understand the process.

You only need a place to track tenant information, payment history, maintenance, etc.