However, if you're willing to put in the work, building a rental property can be a smart investment.One thing to keep in mind is the potential rental income you could earn from the property.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

I had to pivot to a more creative, non-traditional way to structure deals to keep my business going. 

How you guys keep up with all these laws?

However, I keep feeling that we are missing an opportunity to make money off of this house because of the location it is in.

personally, after looking at as much information as I could, I was uneasy and ceased communications. however, if your client does decide to move forward, please keep us up-to-date on how it goes. 

@Paige Seeley - If I am understanding the hart of your post correctly, you are balancing the decision to put more money down, in order to have better cashflow, vs going with a lower down payment (keeping cash in your control) but having a higher monthly payment. 

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

If it’s possible for me to keep 2 of the townhomes, I absolutely would.

I agree with you that I think it could be useful, but keep in mind that experienced landlords have turnover crews so your focus would be on new investors and I would construction cleanup which a lot of contractors don't do well.