The crisis of 2008-2010 took me out of the game.

Must have been nice :P To qualify for the status there are two tests: 1. spend 750 hours in a real property trade or business, AND spend more then half your working time in it.

Pretty much anywhere but:1) Near major hotels2) Legislation or soon to be legislation is creating an issue3) Anywhere that folks in this thread suggest.For me in 2024, I've done two and am aiming to do one more city and a total of 3 more properties.

I built up my runway and have the skills to buy and rehab in a desirable area near where I live and work and then hopefully rent two rooms out to roommates while saving for my next house.I’ve been watching the market for two years now and know which houses are good, what they will go for, and how quickly. 

Get a quote from a local roofer or two on what they would charge to replace the roof and run the difference between replacement costs and insurance costs.

An investor friendly agent can do all sorts of helpful things, like setting you up with a search for properties or connecting you with folks who have recently done deals like the ones you want to do. 6) Consider analyzing a deal or two in your local market, just for practice, with a free use of our Rental Property Calculator (or other calculators).

So much good advice here already, but I'll add my two cents.

It's a two way street.For me personally, going by once a month to do an AC filter change, and my lawn guy going twice a month to do yard work, plus any other on demand maintenance visits, combined to give me a fairly good pulse of what's going on without any perceived intrusion to my tenants.

We can't and shouldn't attempt to compete at that game.

Prior to thinking about a rent reduction, wait two to four weeks, keep an eye on local rental costs, and interest rates.