Feel free to reach out if you have more questions.Thank you for your advice.My thinking aligns with yours in that, at this stage, I lack the credibility and necessary funds.So, in the meantime, wholesaling seems like the right move for generating cash flow, familiarizing myself with the lingo, and expanding my network to build a list of buyers and potential partners.I've registered for a multifamily event next week and applied for membership in the young professional real estate group in my area.I do have one question, though, considering I'm at the beginning of my journey: What skills do you think I should develop to be useful? 

His plan is to give all the tenants 30 days notice to raise the rent more than 10% to get to positive and if the tenants don’t agree, they’ll need to move out and he’ll find new tenants who are willing to pay.

I moved to Colorado and do not have plans to return to NM Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Here's our brief market analysis of today and we moved to Memphis, Tennessee.

The roofs on these things are small, and many have the skylight in the bathroom which often leaks, I would tighten up the roof, then address the plumbing issues then move onto the electrical. 

Tenant 1 = $3,200/month (Section 8)Tenant 2 = $2,700/month (cash)Tenant 1 just moved in a few months ago and is paying $3,200/month (Section 8). 

You can screen tenants with a variety of services online; I like to use my smart move, but there are several others.

I'm moving out of state in about six months and need to start interviewing property managers.

I moved here from Florida after seeing the projected growth.

So I am not the smartest person and some of the helpful replies in previous posts was above my mental capacity.My situationI own a home (homesteaded in FL) and have 2 roommates which help pay the bills.numbers - mortgage left 155k, home value 330k, current interest rate 4.125% on conventional with 24 yrs left on a 30 yrmonthly payment with HOA $1600 pcmI am wanting to either1) turn this primary residence into an LLC and purchase another property to move into and start the process again with the aim being to rent my current house out on an annual 12 month lease for at least 2 - 3 years as I was told that as long as I lived in it 2 out of 5 years I can then sell without paying capital gains (though this confused me and anyone wanting to teach this to me like im 5 years old would be greatly appreciated).