We worked with a realtor that sent out auto-mailers from our local MLS.

As you get ready to start investing I'd encourage you to connect with a local agent in the area that you are looking to invest and they can connect you with other professionals you'll need like a good lender, insurance person, property manager, etc...

That's where crunching numbers and making connections with the locals come in.

=> I would get a local lawyer spun up on the situation when the investor is ready to go.

Call a local commercial real estate broker and get a Broker's Opinion of Value, or ask for current cap rates based on the Class of property.

@Cleiton LevinskiThe best way to find mentors in your area is to attend local meetups.

If you go online to Otis, Schindler, or Thyssen Krupp you should be able to find the number of a local rep who can give you a solid ballpark number for your area.

@Ryan Larsen what @Nicholas L. states is pretty true.Being a PM is NOT a high-paying, often not even a well-paying job.If you're set on that strategy, start calling up local large apartment complexes and asking if they are hiring.

Houston house hacking lets you be hands-on, live in your investment, and know your local area, but it might not make as much money and can be a bit competitive.

I know they have lived there 25 years, but if they cannot afford it then they really should consider selling during a hot economy and take the cash they have to buy a less expensive home or spend some time renting.