We don't do well with armchair quarterbacks.

I totally value and want a property manager to take the day-to-day management off my hands, but on issues with tenant damage and I would like to be kept up to date on matters, as well as have copies of all notices provided to the tenants for my own record keeping.

I highly recommend staying well-informed about tenant/owner laws.

As a result assets will continue to appreciate.Using someone else's money allows you to leverage and buy assets NOW that will continuously go up in value, as well as increase a cash on cash return for yourself over time.

My big concern, like you, was the cost of property in California but there are some cheaper markets in state as well that have a lower barrier to entry than the coastal markets.

There are lots of price drops and even for well-priced homes it is taking much longer than one would expect.

I feel the tenants know the leasing laws pretty well and they are pretty hard to deal with.

Then, score each market based on how well it meets these criteria.

Hi Ryan Biankowski if it were me I would keep my $10k in the bank for holding costs as well as you'll need funds for items you need to put deposits on like cabinets, counters etc.I would find a great deal, use an HML for my first position lender and a PML for the second.

You aren't losing anything by doing so and may very well find a qualified buyer that does not have access to wholesale or off market lists that is willing to purchase the property all cash