How long are you expecting to hold and do you have the money to purchase in San Diego?

@Polat Caglayan very ambiguosu question, but read the helpful info below to guide your next set of questions:)-------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

We believe that we are lowering risk, increasing the average expected return, and leaving the upside unchanged.   

@Angelo CortezYou can still deduct, however STRs are reported on Schedule E, not Schedule C.The IRS expects you to file 1099s even without SSNs - which I personally always found to be puzzling.

@Mattin Hosh first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

It can also be an opportunity to discuss house rules and expectations to ensure you're on the same page.While being cost-conscious is understandable, investing a little upfront for proper screening can save you a lot of trouble in the long run.

@Zach Howard some copy & paste advice below:)-------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

A key lesson was the importance of balancing renovation costs with market expectations.

PS5, TV and two gamer chairs is about the same cost or less than an arcade unit Any extra concerns or methods you take to make sure your gaming system does not get broken? 

Quote from @Nicholas Foy: Has anyone ever had to deal with a rental being broken into and vandalized?