Also, any suggestions on Long Distance Property management?

I do usually charge more for MTM than year long leases but it’s probably only $100 or $200/mo more.

The Annual Allowable Rent Increase effective August 1, 2024 - July 31, 2025 is based on the lesser of 4% or the change in the Consumer Price Index (CPI) for the Los Angeles-Long Beach-Anaheim metropolitan area.

Hello, long-time reader of BP, first-time poster!

Long term I want to buy and hold. 

And lastly, you are only as good as the internal rep you get, don't be afraid to ask for someone better if your rep can hardly fog a mirror.  

The last ones I've done have all been townhome.

Funnily enough I had another client with the same name that invested in NYC for the first time late last year.

So in your scenario, if the place you were selling was 1M, but the loan was at 700k, here, many local banks would do a 200k second leaving buyer to only need to cover the last 100k. 

is there to lend a hand.Build a strong portfolio: My long-term vision is to own multiple mid to large multifamily buildings.