Assess if you have enough time for tasks like tenant screening and maintenance.Expertise: Professional managers know landlord-tenant laws and property maintenance best practices.Cost vs. benefit: Weigh management fees against potential savings and efficiencies professionals might offer.Property location: Distance from your home to the property matters.Number of units: More properties increase management complexity.Stress tolerance: Consider your comfort level with tenant interactions and problem-solving.Long-term goals: Professional management can free you to focus on expanding your real estate portfolio.

In the next part, we'll talk more about how to get along with sellers and negotiate, looking at how powerful good communication and using relationships to get good terms can be.

Based on conversations, CRE could be a great option long term but I may be locked into a lower income in the short term and the potential for earnings are more dependent on my production in the residential space.

Investment real estate is such a great way to build long-term wealth. 

My partner and I now find ourselves in a strong financial position to start our RE investing journey and have set our sights in New England, specifically Rhode Island due to the excellent natural environment and our desire to ultimately relocate there long-term. 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Are you all still investing in Colorado long term rentals?

The property is in an unrestricted HOA with a couple other vacation rentals but mostly season homes with some long term residences.

HVAC repairs today are typically pretty easy to diagnose. 

I typically do the following:1.