A few things I’d suggest as a local investor:Know Your Markets: New England is a mix of urban, suburban, and rural areas with very different dynamics.

The other half is a mix of spec and owners buying lots to custom-build for themselves (more of the latter than the former).

I've heard very mixed opinions so really unsure about them but definitely interested.  

Cash flow, appreciation, or a mix?

Unfortunately, most PMC contracts are pretty vague making it a challenge to get useful information.3) A mix of the two aboveSome PMCs have internal handyman type ServiceTechs for small jobs that they bill hourly for, but get bids for any job requiring a licensed contractor.An owner should understand what type(s) of the above that their PMC uses and discuss as necessary to better understand.THE CHALLENGES OF GETTING 3 BIDSWe wanted to touch on this topic because it seems to be a pain point between PMCs and owners.In theory, it's easy to get multiple bids - you just search online for companies and contact them to get a bid. 

Pensacola has a lot of potential, and I’ve seen investors do really well in the area with both long-term and short-term rentals.Since you’re just getting started, here are a few tips that might help:Know Your Market: Pensacola’s mix of military families, college students, and tourists means there’s a steady demand for rentals.

This in a neighborhood that is slowly appreciating, some renovated homes mixed in with older homes, but is street by street:Purchase price: $130,00001% rule: meets about 0.88% Down payment 20% and closing costs: $29,493Rate: 6.99% conventional 30 yearMonthly payment PITI: $1009 (was $859 until property taxes increased recently) Current rent $1200 (increased from $1150)Property management fee 10%: $120 (was $115) Net cash flow (if no repairs called in): $71 (was $176)Net rental income most months: $170 (first month rent), $935, $922, $1035 (full month rent minus PM fee) $567, $760, $307, $963, $1035 (full month ), $535, $925, $1035 (full month but now property taxes increased), $585.

Or am I mixing things here?

Hi Nicholas we invest in Toledo and have a great team on the ground there that we share would be delighted to assist you if you want to chat

Once you've thought a bit about what your ideal wholistic investment portfolio looks like, if you decide that you want some kind of more active real estate investing in the mix, I cannot recommend more getting Start with Strategy by Dave Meyer and the accompanying workbook The Strategy Planner.