Might also be wise to target the younger generation before they get too far into a career or college path.Household income must be 3 times the “Monthly Operation Payment”.Create unique opportunities to create income from excess space in a property (vacation/air bnb, temp housing for travel nurse, students, etc.)Residents may choose to use roommates to meet this requirement.Pet owners buy all the flooring instead of a pet deposit.

I do kick ideas off my broker to get his thoughts on my rehab estimates and expected rent so I can feel confident my numbers are solid before making offers.

.- Be able to confidently walk away.

Will a good, confident sales pitch and well organized, convincing OM be enough to get the money if it truly is that good of a deal?

That feels risky to me and some people will tell you it's outright stupid.I'd be very confident that I was purchasing a DEAL or remodeling a property with major upside.

Make sure the crews are somewhat local so you are not paying travel time.

Also, be very, very careful with any non-tenant staying there more than a day or two, because 'guest' can slide into 'legally protected squatter' alarmingly fast.For these reasons and others, I've become more interested in alternate renter pools - furnished bedrooms for travel nurses, professionals on temporary assignment, people with weekly gigs in Austin but who return to Houston on the weekends, etc.

In all honesty (Grant Cardone would hate me for this), but start with a SFH or a duplex first just you get some experience and confidence.

How confident are you on appreciation and rent increases over the next few years?

I think if you have family or friends or travel there often that an out of state for first time can work well.