I know I have a lot of work ahead but very excited.I'm currently identifying where I'll hang my license and looking for a strong, reputable team to join - one I can proudly point to as a source of support while I work hard to contribute.

If one knows how to lease properties effectively and efficiently and can identify niches then you are well on your way, especially for buy and hold. 

The drivers you identified are on point. 

I'm not a newbie investor and have been investing for about 18 years. would love to hear more about what you have learned in identifying the need to find a new market and how you went about finding the new markets you have shifted to.Thanks in advance for any insights you are willing to share. 

They keep moving it.  ..Title Creating Chapter 193 of the Legislative Code (Title XIX) pertaining to Tenant Protections...BodySection 1WHEREAS, under City Council RES 89-1273, the Council directed the creation of a fair housing workgroup to make policy and budget recommendations “with the goal of eliminating housing disparities, lowering barriers to affordable housing, and ensuring access to economic opportunity in the City of Saint Paul”; andWHEREAS, under City Council RES 17-2064, the Council directed the development of a fair housing strategic plan “to continue to research and work with housing partners on strategies to further Fair Housing goals such as...improved tenant protections, Tenant Remedies Actions, Advance Notice of Sale policy, gentrification studies, just cause eviction, non-discrimination policies, and others”; andWHEREAS, under City RES 18-1204, the City Council acknowledged that “the housing crisis in our city and region, and the urgent need to address the crisis as our population grows,”; and WHEREAS, in 2019 the City created the Affordable Housing Trust Fund, with five objectives: to meet the needs of those with the lowest incomes by increasing supply; to invest in low and moderate income residents by investing in existing supply; to explore innovative approaches to meeting housing needs; to build wealth for residents and communities; and to promote fair access to housing for us all; and .WHEREAS, in 2019, the Office of Financial Empowerment, which housed the Fair Housing Coordinator Position, was created and subsequently developed the framework for a citywide fair housing strategy identifying decreasing housing displacement, increasing housing access and affirmatively furthering fair housing as the overall objectives; and WHEREAS, Tenant Protections is one of four focus areas including education and engagement, enforcement and compliance, and preservation and production, to address strategy objectives based on the current housing landscape; andWHEREAS, stagnant wages, skyrocketing rents, a lack of affordable housing, and a consistently low housing vacancy rate are making it harder for Saint Paul residents to find housing and to afford it over time; and WHEREAS, the number of renters has increased by 12 percent from 2000-2016 and the City of Saint Paul has now become a renter-majority city, with 51% (57,621) of City residents being renters; and WHEREAS, renters are disproportionately people of color and are disproportionately representative of individuals from low wealth backgrounds; andWHEREAS, demographically 83% of African-American households are renting, compared to 41% of White households; and WHEREAS, more than half of our renter households earn 60 percent or less of the Area Median Income, and more than half of our renter households of color earn 30 percent or less of the Area Median Income; andWHEREAS, in St.

You have to identify the types of pets allowed in your rental property.

You will almost always recoup your investment by replacing it, if going with carpet I recommend choosing a nice neutral lighter color (no grey /peach / etc. undertones, compare swatches side by side and see how they reflect in both light and shade - sometimes colors look similar but side by side and in shade one reflects light well and the other one looks dirty). 8 lb rather than 6 lb pad doesn't cost much more and makes the carpet feel more luxurious.I agree with @JD Martin about the vinyl plank floors, just choose a color that's not trendy and a pattern that's not too busy - I think gray has been overdone and is on its way down the ladder although still popular, and a warm neutral that has a touch of gray may be better.

One tip, try to be in contract on the replacement when you close on the sale of the existing property.....helps with the identifying portion.

I own the property management company so feel comfortable with 5% but wanted to see what others are using...8-10% is pretty common as a conservative.I'm definitely pushing the CapEx & Maintenance down (I do use the 5% typically for Maint and for SFR use 7.5% for, but at 16 units I've seen people say to use $250-350 per unit per year which is how I came to the $250 or 2.5%...Might be too risky, was pushing it down because the property is basically new and from my walkthrough very well maintained...I actually couldn't identify deferred maintenance or issues...definitely appreciate the feedback here.) 

With rent at $1000 monthly savings are $30, what pattern of repairs and maintenance allows you to break even?