My market was really rough so I did research on areas that have good appreciation, growth, price to rent ratios, etc.

Let’s say you find an excellent deal maybe a month after and you’re short on cash, perhaps you can try to partner, or find a private lender willing to take the risk but it is quite the task to actually get through that quick.

I have a growth mentality and my risk tolerance is extremely high, although I take very calculated risks.

Additionally the real long term wealth is in equity growth (paydown and appreciation) and in rent appreciation. 

It is a lot of "behind the scenes" stuff that when the agents talk over the purchase and sale agreement they divvy out tasks.

Are you all doing anything for well behaving tenants with expiring leases or are you looking to turn over tasks and new applicants?

Will installing a drainage system be a difficult/expensive task?

@Minka Sha don’t forget 3 very important things. 1) your principal pay down, is probably $400-500/month.2) rent growth - PB is very desirable and rents will likely continue to go up over time 3) appreciation - coastal CA will always be in demand which will fuel appreciation You bought it with 5% down so have very little skin in the game. $1000/month loss like @Dan Heuschele calculated is tough to swallow but I’d guess you’re breaking even if you include principal pay down and appreciation.

And it is not growth.  

I'm glad you've experienced the tremendous growth of the Boston area and ready for the next purchase.