Something else to look out for is a floor plan that can allow for some separation.

By doing this, you may reduce your housing expenses and begin generating cash flow and equity right now.Make Future Investment Plans: After a year, review your approach to investing and think about the possibilities of buying other properties.

i just never see new investors actually have a plan to be successful out of state. 

I know this because I have 5 two bedrooms there.You could have possibly been lucky to break even in 2023 but now that HELOC on your primary home that you used as a down payment for your cabin is calling at an even higher interest rate than you planned on because the cash flow wasn't what you thought it'd be so it wasn't paid down as quickly as planned.

• single family • small multifamily (less than 20)• commercial & multiuse Your strategy could include your search criteria, your steps for evaluating potential projects, or your plan for how you'll achieve a long term goal (# of properties, type of property, etc).Thank you, Paul

I live in CA and plan to invest into a RE rental property in Florida incorporating business entities for an assets protection. 

Hi Michael-Great question and an important skill for investors to understand.I recommend the ABC's of Real Estate Investing by Ken McElroy and Ken's YouTube Channel.If you are an investor, I recommend finding and using a good property manager for your properties as soon as possible to maximize your return on investment and make owning as passive as possible.A good property manager is a key part of your real estate investing team.Get them involved early in the underwriting process of a potential acquisitions and the planning for adding value.To Your Success!

If they don't sign the renewal they have other plans most of the time. 

Sure, it's a bigger upfront investment, but it could pay off nicely, especially if you're planning to move there eventually.

Are you planning to sell your primary in the near future?