*Any red flags unique to the Pittsburgh market.I’m also hoping to connect with fellow investors, agents, or property managers who are familiar with the local market.

I work on a ton of Padsplits in the Atlanta market and it is tough for a 4 bed co-living property to be much more profitable than a long term tenant factoring in additional utility expesnes, padsplit fees, and additional property management expenses.

I've purchased a couple of my investment properties directly from property management clients who decided to sell. 

Don’t have the time to do property management right now however as I have a full time W2 (accredited investor) and a family to raise. 

And I certainly wouldn't have survived it with no investor losses, as I was able to do thanks to having a manageable portfolio at that time.All that is to say that I wouldn't change a thing.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

The local property will give you practical management experience.You might do better buying a REIT if you are planning to buy single properties far from home.

Don't change jobs or income yet.Once you do and you think you can manage the payments based on your new income, maybe once you get the rooms rented.Then if you want to switch there are plenty of opportunities. 

Cash flow depends on the down payment, but using a HELOC could keep your cash reserves intact while you get started.Make sure to build a reliable team (property managers, agents, etc.) to help you manage the property while working full-time. 

The place where you can add value with no money is a situation like: you find project A, it is a 120k purchase and it should need 80k rehab but you can get rehab done for 65k cause you can do some of the work and you know how to save on materials and you can manage the rehab.