So you don’t waste your timelooking at all locations, prioritize and pick locations that put youin a more favorable location between your future competitionand your residential customers.

We've found Meetup to be a good generator of interest so if you have bit of money to get on with that, it might be worth your while.

IF it is managed well and in an area that has demand, the AirBnB model should generate more money.

Who is our customer?

Most expensive things would be A/C unit and furnace if they weren't operational.The reason for buying this house is so that I could focus more on generating my passive income without the strain of having to work a 9-5 while also running my business.

Now that I am an investor the first things I look for are the electrical, no knob and tube or the generation after that, I look for problematic asbestos, and I look for indicators of structural issues whether that be foundation issues or things like doors not closing, sloping floors and lots of cracking walls.

Leasing was not generating wealth.

You have a lot of pieces here...but yes you pay State income tax on the income generated in that State.

Here are some important things to consider:- I am pretty much at capacity running my RE business, so I don't have a ton of bandwidth to do it all myself- Let's presume my opportunity cost is such that pulling away from my RE business to "do it all myself" for these rentals is not a good use of my time, as I'd earn a higher dollar per hour being the CEO of my RE business than the dollars per hour savings trying find off market deals (I.e. saving 20k and trying to do the rentals myself would cost me more than 20k of lost opportunity cost by pulling my attention away from CEO level tasks at my RE business, which might generate 40k of revenue for the same time)- By the same light, turnkey could be an option, I'd be willing to pay the turnkey premium for the time savings of finding and vetting my own deal, however I know I'd still need to underwrite my own deal provided by a TK company, so having someone who can help that underwriting process would be super valuable, rather than me trying to learn from scratch how to properly underwrite the deal.

We have a relationship with Foremost and have been happy with the customer service and claim payout, but they have not been super competetive lately.