Our goal is to get a 2 - 4 unit property, with minimal rehab needed, already rented units (ideally), for around $50k.

The idea that you can build wealth without putting any money into it is a recipe for disaster and the sales pitch of gurus trying to steal your money.

This way you waste minimal time, and essentially cast the widest net.

I rehabbed the two units myslelf with minimal improvements.

I now have a wonderful home to live in with plenty of created equity via forced appreciation, and minimal paid-in equity.

Simply enter some information to view projected key return on investment (ROI) metrics, including cash flow, cash-on-cash return, net operating income, and cap rate.Minimize risk by investing in a pre-inspected, turnkey rental property with a tenant in place to earn cash flow beginning the day the deal closesBegin the loan application process early, because sometimes lenders require more paperwork than when you’re financing in your home stateHire a good local property manager who has experience working with out of state investors.While buying out of state rental property does come with some risk, investing the right way helps to minimize those risk while maximizing the overall returns of your property portfolio:Key reasons for investing out of state include increasing cash flow and portfolio diversification.Affordability, matching markets with investment strategy, and property affordability are three advantages to buying real estate out of state.Turnkey rental property and a local property manager help to reduce the risk of investing outside of your home state.I am a real estate agent and investor in TX.Katy, Cypress, Spring, some parts of Houston, Conroe, Tomball, Pearland are great markets.Rent growth and appreciation is steady.These cities tend to command quality tenants, and they have great schools.Get in touch with a local agent or investor and shorten your learning curve and save you a lot of headaches as they tend to understand the market better.All the best!

Want to minimize vacancy as much as possible.Thanks!

If you flood and have flood insurance they would cover collapsed foundation (personal experience) and some appliances/mechanicals but contents would be minimal coverage. 

You'll learn a lot along the way, with your money working for you.My thought is if you will research 50 GPs, listen to their pitches, go to their meetups, listen to their podcasts and invest in 5-10 LP opportunities and then still want to spend $40-$50,000 for a education you will then be in much better position to understand the material and act on it.

I now have a wonderful home to live in with plenty of created equity via forced appreciation, and minimal paid-in equity.