Investing in a property that’s already renovated, rented, and professionally managed could allow you to start generating passive income immediately without the added expenses of house hacking.What’s most important for you in this first deal—cash flow, appreciation, or long-term stability?

My wife and I come from a manufacturing leadership and project management background.

Somehow they manage to live with it.

It makes lead management way more efficient since they get to focus on people who actually want to do business. 

Just make sure the management part is taken care of.

and am eager to connect with experienced investors to gain practical insights.What I’m Looking For:Advice on identifying cash-flowing properties and understanding market trends in Lynchburg or similar areas.Recommendations for a local real estate agent or property manager with experience working with investors.Insights on how to balance active and passive investing as I grow my portfolio.I’m grateful to be part of such an inspiring and knowledgeable community.

I will manage the property through my assistant.

Using an unexpected repair as justification for not caring about cashflow as much as appreciation doesn't really address the issue, especially when appreciation also operates on the idea that the property's condition doesn't decline relative to comps.From what I understand about REI and cashflow, cashflow should cover not only PITI, but maintenance, repair reserves, prop management, etc.

Madison Management out of reno is who we use who ironically used to be in Morristown NJ

You are definitely going to want to get a lawyer and as soon as possible.This will sound harsh.In your story, you have made a number of very poor decisions about how you purchased and managed this property.