Would love to learn about your experiences. 

I did a credit check, criminal background check, got pay stubs, required income 3x rent, and got employer confirmation and prior landlord reference (but I never got in touch with the prior landlord successfully)In my experience:- Always talk to landlords, especially former landlords.

Referrals will always come back to us if they have had a good or bad experience with a property management company2.

Key questions to ask include:Their experience with out-of-state investors.Knowledge of the rental market in Cypress, Katy, and Sugar Land.Experience with investment properties, particularly single-family rentals.Their network of local contacts, such as property managers, contractors, and inspectors, which can be invaluable for an out-of-state investor.Technology will be your ally if you are an investor from out of state.

However, I would appreciate further clarification on what you mean by having a Plan B, C, and D.In my experience playing the BRRRR game on a smaller scale, typically with homes valued around $200,000, I have found that it can be challenging to generate significant monthly income, Instead, the focus is often on building a portfolio without having to make substantial out-of-pocket investments, which is indeed advantageous.

I'm eager to learn from your experiences and insights.

I would say research is a lot easier when you are looking to confirm an answer rather than find one.How I determined that the info provided by a “random” is true:The gentleman that answered my question seems to be a CPA with his own firm and 25 years of experience (unless this is an elaborate hoax with no apparent end game). 

If you did not do independent appraisal and inspection, you experience what 170+ investors experienced.

Thanks in advance for personal experiences & recommendations!

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