I recommend you really study your market to determine the appropriate rent rate, then market yours 5-10% below the competition for a six-month lease.

Join off-market Facebook groups and local RE investor FB groups to get more local information about potential off-market properties, and find investor-friendly RE agents who are willing to work with you.I would recommend for a first deal at least to get something closer to home, easier to get back and forth to for your own sanity, ability to check on either construction or tenants, address repair and maintenance issues.

A good agent will ask about your ROI & cashflow, then help you work backwards to determine an offer price to make your numbers work.

I agree with the "it depends" approach when it comes to determining reserves, but generally, it should align with the age and anticipated maintenance needs of the property.For example, we have a duplex built in 2003 with the original AC units and roof.

Do you think this will impact my ability to rent the property?

.- You could also try selling to another naive investor, but you don't have the infrastructure to do so easily. 2) You'll need to evict the tenant if you haven't already.3) Have 2-3 agents tour the property and take videos of their recommendations of repairs.4) Review all of these to create consensus Scope Of Work (SOW). 5) Get 2-4 bids on the SOW6) Review bids to determine cost effectiveness of what to actually do.

If you're financing with 25% down, you may need to search the pits of your investor soul to determine if this is solid. 

For many investors, an LLC acting as a Holding Company is going to offer the ability to manage the entity simply and provide limited liability protection.

However, managing multiple LLCs can mean higher costs and administrative work (separate bank accounts, annual filings, etc.).It depends on your risk tolerance and ability to stay organized.

Not you, not me, not anyone.If you’re relying on your ability to predict when or if someone will become motivated, then yes—it will be ridiculously hard to generate leads.But if you do it right…And let motivated sellers come and find you…How on earth is it hard?