My brother-in-law/ real estate partner rented a home on Emerald Isle and met a property manager and they spoke and started a relationship.... three weeks later we owned this home.

That's the cost of owning and managing rentals as a investor.

Your cap ex and management will likely to be factored in and are you planning on seeing these in person.

Let's assume 2 years on the conservative side.Property manager: I would manage this myself.Net income (monthly): -$290/month.

I am a rookie and trying to buy my first rental property to start my real estate portfolio.

However, it might come with higher maintenance costs and more management responsibilities.Financing and Down Payment: With your savings and HELOC, you can make a substantial down payment of 35-40%.

I have no Real Estate credentials or portfolio of any sort.

Not sure if they cover  Toledo but avoid Monument Property Management!

As many have noted in recent threads, quality of assets ends up being a larger driver to manage less doors (either self or through PM) while still achieving the same yield.

Effective HOA management & enforcement of rules can foster a sense of community, ensuring that properties are well-maintained.