Hi all, my husband and I just bought a duplex earlier this month with the plan to self manage and house hack.

With less socialization and in-person interaction in our world today, self-managing your rental property from a distance can be stressful and a full-time job.

It also has to be self managed. 

Best ways to get tenant applications, screening tenants, collecting rent, banking, taxes (with or without creating a LLC), self managing the property and/or tenants, and everything else that comes with renting a place. 

There are a few self-contained guides that you can access here: https://www.biggerpockets.com/guidesAlerts can be really helpful too: http://www.biggerpockets.com/alerts

Originally posted by @Scott Mac:Run down (Slum) 4 plexes go for $600,000 WOW.Do you know how many SFH's you could get in Detroit for that--Just WOW.Kelowna is lower BC mainland on Lake Okanagan also basically the warmest area of all of Canada along with a huge retirement mecca,  tons of great golf wineries  fruit orchards  Big white ski mtn 35 mtns  the lake it self is about 50 miles long and great for boating and recreation deep blue water. then the mtns are loaded with fishing lakes its really quite the place and this is big for semi Rural BC LOTS of medical..

Well, even if your CPA was correct, this had an opportunity to convert the ordinary self-employment income to capital gain. 

Very few of these people are what I would call financially successful, which at this stage I would define as having self-made net worth of $1-5M net worth outside the value of their primary residence.

Much more active than LTRs but well worth the time if you learn to self manage remotely.

So if it's easy to get a loan and you don't have a good deal in front of you put the money in the 401(k) to take advantage of an employer match and you'll have more to borrow when there is a deal.On a related note, if you're going to get serious about real estate investing you may want to consider a self directed retirement plan so you can invest in real estate for at least a portion of your retirement as well.