@Wyatt King If I had $300k to start I'd get educated as quickly as possible.

Hi Dennis.We believe in providing accessible education to everyone and still stand by that goal.

Educate yourself on how to identify/fix the most common problems for your main systems and then walk your tenant through it.

Also, what are your thoughts on renters here- like median income, education level, stable jobs etc…?

You don’t have to get rich on your first property, it’s like a free higher education class. if you lack the courage to buy real estate when times are good how will you have the courage to buy when times are tough?

Educate yourself and be prepared.

What are some good audio books or YouTube accounts that can help with my real estate education ( history of real estate, markets trends, taxes, LLCs.  Or psychological thought patterns of  persuasion and people who are considered sophisticated) Not looking for anything that targets emotions or that hypes passion like rich dad poor dad.

My partner and I are newbies to the real estate investing world and we are just starting to do our research and self education.

Would love to hear if anyone thinks these numbers / assumptions are wildly off or too conservative.Acquisition CostPurchase Price = $200,000Closing Costs (at 2%) = $4,000Due Diligence (at 1%) = $1,500Up-front Renovation Reserve = $5,000Total Acquisition Cost = $210,500Financing:20% down payment = $40,00080% loan (likely a major lender, traditional 30 year loan) = $160,00030 year term @ 3.2% (educated guess with very solid credit)Monthly Expenses:Mortgage Payment = $691.95Property Taxes = $120Insurance = $55Property Manager (soup-to-nuts) = $159Other Variable Monthly Expenses = $40Capital reserve monthly deduction = $37/month (5% of net income withheld for capex)Assumptions:3 months to renovate / update post acquisitionProperty rents for $1,400 / month (and assuming a 3% annual increase)20 day vacancy assumption = 5.48% vacancy rateTenant takes occupancy month 3Annual expense growth rate of 3%Expected / Target Returns:Monthly IRR (w/ financing) = 15.48%Monthly cash-on-cash return (average over 5 years) = 2.79%Monthly Net Operating Income (year 1) = $798Capitalization Rate = 4.79%Kyle

I've been educating myself through the Bigger Pockets forum & podcast along with reading & YouTube University.