Use Excel STR proforma template or variations of this.

You may need a property manager, a maintenance worker, and a contractor before long.The secret to many out-of-state investors' success is finding and hiring an excellent property management company.

Driving for Dollars is an excellent way to find motivated sellers!

example:freshbooks, freeagent, personal excel sheets.

This is excellent advice, i know that at this point i am prepared to make an investment at 25% of the property, doing this would make the numbers work but it does seem like there could be a lot more potential in another market or area of San Antonio.

Also, manage with excellence or, even better liability limitation, hire a really ridiculously good Property Management company to look after your property.

To maximize the number of transactions you’re involved in you will need to:Be Top of Mind when they think about moving - which requires consistent reminders.Be seen as an Expert – which requires a consistent message and Evidence of Success storiesGain their Trust – which requires communicating integritySo, start out by listing everyone you know in an Excel spreadsheet.

(My PM uses Rent Manager software, in case that is relevant.)Last year I manually input all the income plus every individual expense into an Excel spreadsheet, which I then sent to my CPA to prepare my tax returns.

Once I become more familiar with my market, Memphis sounds like an excellent place to go next!

Simon Sinek writes an excellent book about finding you "why".