I have definitely thought about investing out of state and plan to explore that option once I can get my feet wet here in Long Beach. 

I am in the process of purchasing my first rental property and am looking for any advice on what to anticipate as a new Landlord.

What do you plan on doing with the cash equity?

I always just sit on the underwriting process of worst case. 

My parents are planning on selling their investment home (SFR) to buy another home in Hawaii (i.e. 1031).

@Ashni Modi here's just a few of the major investments happening in Detroit$2.5B New Center by Henry Ford Health, Pistons owner and Michigan State Universityhttps://www.clickondetroit.com/news/local/2023/02/08/incredible-investment-in-our-city-25b-detroit-neighborhood-redevelopment-to-begin-in-2024/$1.5B Investment, 12,000 temp jobs, 6,000 New Jobs: District Detroit Developmenthttps://www.detroitnews.com/story/business/2022/11/15/district-detroit-1-5b-development-to-include-housing-retail-hotels/69649853007/$1.4B Total as Hotel Added to Hudson Sitehttps://www.detroitnews.com/story/business/2023/11/02/hudsons-site-hotel-plans-move-ahead-as-city-issues-permit/71426631007/$439M Gilbert Foundation investment in Detroithttps://www.henryfordmsu.org/news/september-2023/gilbert-family-foundation-announces-nick-gilbert-neurofibromatosis-research-institute

What's your plan?

I plan to purchase either a distressed MFH, or a distressed SFH with an ADU, a potential ADU conversion (shed, garage, separate suite, etc.), or the potential for sqft to be efficiently added during the rehab (screened porch, carport, concrete patio area, etc.).

**Furnishing and Utilities**: My property is fully furnished, and I plan to include utilities.

@Rania MutumheHouse hacking means turning a place into a rental space, which calls for fix-ups, planning costs, and expert help.