So many amateur landlords make big mistakes that cost them far more than a professional PM ever would.3.

The home has potential to bring in a monthly rental of $1800 - $2000.  

Meaning you will only be able to get 75% LTV cash out and on a $225K value (if appraisal comes in at $225K) your looking at a loan of $168,750.00.You have to factor in closing costs and your loan payoff which might put you around $138K to $140K which leaves you with $27K +/- in cash at closing.

The key is to find an activity that can get you conversations with potential sellers every day.

This is a costly addition to your team.

The other half is: excellent finished product design and management at a reasonable cost. 

Here’s why you should consider it:🔑 High Profit Potential: With the right property, you can significantly increase your investment return.

If that is not possible, then I would ask myself if the increased cost of capital to access the equity is worth the next deal's profits/benefits.

Google MapsGoogle Maps is a fantastic and free tool for scouting potential properties and understanding neighborhood dynamics.

My question is, do you submit offers on potential deals and make them contingent on financing and then go find the money after the offer is accepted...hoping you can do that quickly enough?