With this being such a high-dollar investment property, we locked in a 30-year fixed rate with a PITI of $2,600.

Looked at dozens of SFHs online and ran the numbers, ARV not high enough, renovation costs going over, and making offers based on video tours, sight unseen has been challenging.

And, here's a harsh reality:  you mean nothing to the tenant...their caseworker is the one with the power. 

I also ask for referrals, I do not just choose the first one I see that has a handful of five star reviews.Tenants: As long as your screening criteria is where you want it to be (my preference is rather high), your lease agreements are rather air tight, and you keep an open line of straight forward and honest communication you should not have too many issues with your tenants.

Just so ya know....Even the high traffic Lifeproof LVP with thr 22m ware layer that is pet proof and waterproof?

Put damage deposits and rental reserves in a high yield savings account or CDs.

While a lot of investors are trying really hard to capitalize off of our influx of high income earning new residence and the fact that we are home to the most million and centimillionaires ($100M+) the market doesn’t call for all properties to be fully renovated.

We aim to start with flipping houses to build capital for more significant future investments.Currently, we are exploring the option of finding a partner who is a resident of Australia and has funds to invest with us.The high cost of properties in Sydney is challenging ($2M), so we are considering exploring a more distant but cheaper market.Is it a reasonable strategy for first-time investors?

If the property manager is named on the contract, then the property manager can represent the owner in court.This may not apply to your situation, but I highly recommend you read the law or speak with an attorney to understand your options and which method is best for you.

Deal details: $800k pp, 1.5 back end high seasons jan to April 15-25k, low seasons 8-10k