Like you, we decided to look for a property in the RRG because we like to go there.

We decided to make the unit all electric so we didn't have to worry about the gas bill and the meter is already split for electricity.

If you decide on DSCR loan I don't think local is as important.

Quote from @Dan Zambrano: Hey all,After thinking it over I decided to create a new thread.I am a small time passive real estate investor who has ambitions to expand greatly, first to $20M and perhaps maybe more. i guess I will give a little bit of background on my journey up to now.I am 38 y/o, Electrical Engineer by day, Architectural enthusiast by night.

How did you decide which neighborhood/street/zip code to start with?

I've also talked to my current lender and we decided to wait till we get closer to maturation in hopes the rates will go lower. 

How do you balance these strategies, and what signals do you look for in deciding to hold or flip a property?

Due to current market conditions and unforeseen financial challenges, we have decided to temporarily suspend distribution payments.

But once you declare to be running a trade or business - then 1099s do come with the territory.If you really want to avoid 1099s and decide to claim to NOT be running a trade or business - be prepared to lose your business overhead deductions upon an IRS audit.

Capex and tenant issues tend to exceed cash flow and when you decide to exit after a couple of painful years, you are in for another surprise:It is shockingly hard to sell cheap homes!