I would certainly at the very least get a property manager, the idea of using a resident manager is also one that has had success but I would make sure you really trust, think of them essentially as a partner in your business seen as their choices and decisions directly impact your business and investment (pick someone that is responsible) another part of your team I think would be vital to your success is a handyman that you trust, someone that can handle small repairs quickly and be trustworthy and knowledgeable enough to know when the task is outside their ability and can let you know, the manager know to contact an actual specialized contractor or if you trust them enough allow them to arrange and coordinate the hiring of contractors.Obviously I would definitely consult with an attorney and get a contract drafted up for each of the people on your team so there is no questions as to who is responsible for what. 

Purchase price: $231,000 Cash invested: $4,800 Contributors: Michael Ablan Wife is active duty, so this was a VA loan purchase to live in for 2 years, then rent out when we move.

The reason I like them is that there is no statutory duty to hold annual meetings like regular business entities have. 

But even more importantly, every Board is different, and many of them have screwed up priorities or are simply incompetent and fail to properly meet their fiduciary duties.

.), it is a relatively simple matter for the CPA to pull the figures from the year end reports to prepare your taxes.Most PM contracts state that that their duties are to "manage" the property, including showing Prospects, soliciting Rental Applications, and selecting Tenants; completing a standard Rental Agreement package that is tailored to the property and locale; conducting move in orientation and inspections with full documentation and photos of conditions; managing the Tenant during occupancy, including handling routine repairs; conducting move out inspections and documentation for reconciling with SD; depending on spending limits within the PM Agreement, handling turnover repairs and ensuring invoices or written estimates are obtained within the SD deadline period; obtaining one or more proposals for projects over the PM spending limit.

Then, attend occasional Regular Board Meetings to see that they are following the laws and fulfilling their fiduciary duty.

@Tom MakinenToo expensive in Sydney and some more complicarioms like the FIRB and 8% extra you pay for stamp duty, something we dont have in the US.

If you’re not sure what entitlement is, it’s the purchasing power the VA allows you to use up to a point in which they will “guarantee” your loan.I am a veteran, an investor, I’ve used my VA loan (including VA renovation loan) multiple times, and quit my old job to become a lender that specializes in getting other active duty and Veteran folks into VA homes while maximizing there entitlement benefit.The location on this post says San Antonio, Texas, which is a prime spot for the method that I’m going to suggest you use due to its affordability.

Many of our long term investors have found our team to be vital in guiding them to scale their portfolio over time to achieve their financial goals.

The mortgage payments were really inexpensive and it allowed us to complete repairs when we had the time since I was still active duty and my wife is a registered nurse in the local emergency room.