Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

STAY AWAY!

I've been trying to stay in the north part of Fort Worth. 

I would strongly urge owners to stay away.

If I wasnt going to be doing this I would just be saving more money and staying for free with my parents.

But you have to ask proactively, and be mindful of how long you stay in forbearance to avoid long-term credit issues.🔹 Insurance Challenges – Even when insurance pays, it rarely covers the actual cost to completely rebuild.

I don't think being a long distance landlord is as easy as some tout but full disclosure I've stayed with 80 miles of my primary residences. 

There is always a transition period where selling owner stays on and over time new owner transitions into full control.

Prioritize properties with rental potential, plan for reserves and tenant strategies, and stay patient as you network and learn.

I'm looking at small multifamiles and won't have an issue with capital thankfully.I am in Arkansas and looking to stay local-ish initially.