Given that you're just starting to learn, I would highly recommend talking to lenders and real estate agents in your area.

Troy,In addition to what Melanie listed I would add, you need to find out about the local, state, or federal guidelines (if any) that impact the setup of the property.  

I thought it would be valuable to kick off a discussion about the latest economic headlines and their impacts on our strategies.1️⃣ Interest Rates on the Move: With recent fluctuations in interest rates, how are you adjusting your financing strategies for acquisitions and holding properties?

Market is still affordable to get into and cashflow is actually still possible even with high loan to value properties.

I have heard so many stories just like this from people who have purchased from turnkey companies.The refi is one way, but you'd have to have a big rate cut to free up $450 (unless this is a high-priced property).

Hi Nicholas,It is common in most market not to get a lot of leads, mainly when the price is high, but it takes around 2 weeks to a month to really find the right person.Make sure that you are in the ranges that other rental properties are in your area.

Like the car salesman/hustler who converts “ups” at a super high rate; or the guys hustling oil well participations over the phone.  

(The US national debt is high, but not past the point of no return at a 5-6:1 debt to income ratio). - Income Inequality is spiraling (Income inequality rose substantially from 2000-2020.

Highly recommend Simplified Management/Rentals.

Friedrich, I'd recommend starting with high level strategy and work your way down to granular tactical action steps which will help you identify where to focus time, energy, and resources.On a more tactical note, with $50,000 it will likely be very hard to find deals that cashflow in bigger metro markets like Charlotte, Raleigh, or Charleston.