You'll do a lot better than just saying "Hi can I rent your home to do airbnb?"

Real estate wasn't even a thought in my mind at 16...probably would be a lot better off if it was!  

If your primary concern for REI is cash flow, out of state may be a better option.

I feel like the closer to the city the better investment as long as it's within a reasonable price and safe. 

I think doing something similar to you ie 500 K liability & 2 Mil umbrella would have been better.

You can theoretically cash flow better if the stars align with a section 8 rental in North Philadelphia compared to a better situated property.

@Rabia Khan leverage buyers agent experience. look for HOA cash reserves, check how old or recent HVAC is, kitchen appliances etc. the more recent and updated they are, the better it is for you as you dont have to invest in maintenance or capital expenditures.

I hope you get to know you all better!

Use an earnest money note for a reasonable amount and that keeps you from out of pocket expenses and you'll have a better contract as the value of the note is the same as cash with respect to consideration.

Hey everyone,I've been consuming BP content (podcast, audio books, the forum, etc.) for the better part of 5 or 6 years.