Real estate investments, when managed wisely, can provide a steady income stream through rental properties, potential tax advantages, and the possibility of significant appreciation in value.To maximize your success, it's essential to conduct thorough research, understand the local market, and seek advice from experienced professionals.

You can learn a lot from someone who's spent a lot of time on the property, and it doesn't cost you anything as long as you're polite and respectful.Lastly, you'll want to be ready for the tenants to ask YOU some questions as the buyer or agent. 

Managing tenant relationships is crucial for us landlords and real estate investors.

Work with the local experts- talk with local zoning officials, engage architects, and reach out to contractors to understand the cost and feasibility of your project.Run your numbers- do some forecasting and layout some financial models to project costs, revenues, and returns.Make sure you are utilizing your team- aforementioned real estate broker, financial advisor/ CPA, and lawyer and others as you go.Best wishes and good luck.

In person its a place I could see maybe doing an investment or two in but its not where I really want to set up shop (I mean that literally; set up a home and also set up a wood shop - so I can build custom cabinets and stuff).If Santa Cruz, CA ever goes on sale then I'll go there and suck it up with CA laws and cost of living, but for the foreseeable future it is not even a remotely viable option; I looked at a fourplex there generating $10k in monthly income and priced at $2,700,000. 

Who's going to manage them for you? 

.- It's been well kept- Between transaction costs (e.g. broker fees, transfer fees), capital expenses, tax recapture I would need to sell it for $1.9M to break even.-  At it's height (2022), it could have sold for but $2.7M. 

I will have access to ~1M in cash for down payment and closing costs (I would also have reserves, separate from this capital).

@Nilusha Jayasinghe We also use SmartMove's tenant screening through our property management software, Innago.

What are you going to do for PM and Maintenance as a 40 unit will not support full time either position and that makes for management challenge.