AND, why it's called INVESTING and NOT Pay-Check-Purchasing.

I would love some advice on trying to navigate this if anyone has purchased a property like this before and wanted to know what are the major things I need to be concerned about.

I am looking to pull out about $100k right now in order to purchase some investment properties. 

So the most important thing when purchasing any property is location.

@Steven Catudal congrats on making your first purchase!

Purchase price: $153,000 Cash invested: $40,000 Recently updated duplex with tenants in place.

Our goal is to purchase a new construction home as our first investment, with plans to acquire four more properties in the next three years (4/2 around 400k with 25% down dscr loan) .

@Mike Liu there's always a tradeoff between risk & reward.If you want higher cashflow, you'll need to get into riskier investments.STRs are riskier than LTR due to: saturation, changing local government regulations, more intense time required, etc..Regarding LTR higher cashflow:If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

BP Family - I am currently under contract to purchase a long term rental home and will be closing on July 12th.

Activity DescriptionTenant recruitmentTenant screeningNegotiating and executing leasesOverseeing repairs and maintenanceCommunications with tenants and vendorsTravel timeResearch for potential rental real estate (pub 925)Acquiring rental real estate (pub 925)Paperwork/bookkeeping/bankingResearch and purchase of materialsRent collectionEvictionOn-site cleaningBill paymentOther:Time SpentDate