Put damage deposits and rental reserves in a high yield savings account or CDs.

While a lot of investors are trying really hard to capitalize off of our influx of high income earning new residence and the fact that we are home to the most million and centimillionaires ($100M+) the market doesn’t call for all properties to be fully renovated.

This strategy is great, but it fluctuates depending on the time of year, you probably won't live for free because it is more challenging since you are only Airbnbing a small space or basement unit.4) MTR - this is a good in between style of creative strategies since you can furnish a place nicely that would rent out on Airbnb but you want a long-term high quality tenant like a travel nurse or corporate rental that stay for 2-3 months vs. under 30 days for most Airbnbs.Combining strategies is the best way to go, ideally, you would find a property with a separate entrance or walkout basement, live upstairs in the one of the bedrooms, rent out the other upstairs rooms and STR/MTR/LTR the bottom unit.

If the property manager is named on the contract, then the property manager can represent the owner in court.This may not apply to your situation, but I highly recommend you read the law or speak with an attorney to understand your options and which method is best for you.

We aim to start with flipping houses to build capital for more significant future investments.Currently, we are exploring the option of finding a partner who is a resident of Australia and has funds to invest with us.The high cost of properties in Sydney is challenging ($2M), so we are considering exploring a more distant but cheaper market.Is it a reasonable strategy for first-time investors?

Deal details: $800k pp, 1.5 back end high seasons jan to April 15-25k, low seasons 8-10k

It's also about understanding the market, having folks or a team there that can help you, and making sure it's viable for you personally.If this property checks those boxes, ignore anyone that downplays the returns not being high enough.

I currently have a large 1/1 with a ton of space in a highly desirable location in Chicago.

My local town I am in prices are way way to high. juat trying to snag my first buy and hold desl.  

I live in Southern CA where cost of living is high as is real estate.