@Wale Lawal is very experienced as an agent working with investors. 

Can you really give an unbiased opinion? 

Think of it like buying an existing performing business.

I tell people to start by picking a strategy (OOS long term, OOS short term rental, fix and flip, etc) THEN pick a market and submarket THEN look for good tools/people, doing it any other order tends to be an exercise in futility. 

We are learning as we go here and I am curious on the approach others have used when going for their first property after getting their HELOC set up alongside an LLC and so forth.

Additionally, there's growing interest in cryptocurrency as an alternative asset class, though it comes with higher volatility and risk.

I realize it's just an example and my comment is a generalization but just something to be aware of.With regards to the original question, I think it comes down more to what you want to do and what the offer is for walking away vs. rebuilding.That is the exact example a public insurance adjuster used when speaking to a local investor group a few years ago.

What are the other important parts of having an investment property?

Since 2019, the median closed sales price for an oceanfront condo in our area has increased from $157,000 to $285,000.

The owner lived in Utah and was making too much money as an orthodontist to worry about his run down property.