Hello Bigger PocketsMy Wife and I (both 28 yo) are new to investment properties and would like to start by supplementing out income as well as prepare for retirement with buy and hold investments.

If you can get better in 3-6 months thats great, but better to not aim to high.

This becomes particularly relevant when you aim to tackle larger rehab projects.2) The size/scope of the rehab.

I don’t intend on living in the property again so long term hold is what I’m aiming for until I learn more about investing in real estate.My agents broker offers PM so that’s something I’m definitely looking into, just to make this first rental a little smoother.

@Chris ThomasI’ve always aimed to buy for cash flow in neighborhoods that will appreciate.

My analysis, research and pitching comes in handy as I've built out the ultimate pitch deck aimed at my target audience, my husband.

I am chasing these leads for my partners to supplement income and learn the business.  

If it's kicking out good cash flow and your goal is cash flow, then I'd keep it and let it continue to perform as a cash cow to supplement your income.If you are investing in areas out of state where you are happy to be investing and your returns are strong, it could also make sense to buy again in that area and consolidate your portfolio.

We're aiming for $5K in reserves per door.

Individual Income Tax Return) married filing jointlySchedule C (Profit or Loss from Business)Schedule E (Supplemental Income and Loss)Schedule SE (Self Employment Tax)Schedule 8949 (Sale and Other Disposition of Capital Assets)Form 2106 (Employee Business Expense)Form 8829 (Expenses for Business Use of Your Home)Form 4562 (Depreciation & Amortization) non-rental propertyForm 8582 (Passive Activity Loss Limitations)From our Partnership Return:Form 1065 (U.S.