If you are caught, you can be fined and the city will give the tenants an option to move in to the property at the previous rent rate.

I was looking to invest in the city of Long Beach, but houses are around $550k each for multi family duplexes.

You might have city permit issue.

I’ve done a good amount of research for a week straight, wanted to know if anyone can point me in the right direction of how to successfully start this journey. Mentorship/partnership are always up for discussion. Tha...

I've been doing residential real estate in and outside the city of Atlanta for the past 4 years. 

How can I virtual wholesale in the same city (chicago) that I live in? 

I'm looking at various cities in the midwest and southeast where the rent-to-purchase price is better than Austin.

Greg:    First, do not get discouraged by anyone, someone else is doing it so you can, not going to be easy.If not done already I suggest to look into this:Enforce that PM uses a great website for rental screening, ones with a background check and choose the best tenants possible.Review you leases to close any pitfalls and enforce the lease to the T.Keep the units in good shape and keep extra cash reserves ( fixing + trip expenses )Tiger than normal lookup on the PM ( have second PM line up ), vacancies, unit showing costs, repairs, fees, etc,  require a once a week normal operations report and a once a month full operations report.Family, friend on virtual assistant that regularly drive by the property and reports to you, or if cash flow allows and deem beneficial you can install security cameras and remote view activity on the property, nowadays there are lots of options.Check if feasible to get a home warranty plan for the units so some pain issues are self-managed by the tenant via a phone call to the warranting companyIn which city/state is the property? 

This information is fairly easy to find on your local city / county web site. 

in our market here we build 3 to 4 thousand new apartment doors yearly. that's one city metro.. so this in itself keeps rents from going to nuts.. but the new construction depending on where it is is 100 to 400 a foot to build.. its a 100k to build one on the low end up to 400k for one 2 bd apartment in an elevator building on the higher end..when you can go to rural US and buy existing homes in some of these small bergs for 50 to 70k and in some small towns in PA for instance I have seen many for 10 to 20k.. does not take much there to be successful renting those out.. cost of acquiring them is more akin to being in the used car business.