Go for it.I'm setting up a condo next to a major airport in Houston as my next airbnb; had my interior designer stop by yesterday (Monday) to give suggestions on how to add the "touches" that should attract guests.Hope this helps.

One of the most concerning factors is the question of how you can protect yourself from lawsuits stemming from properties you may never step foot on.

As for credibility, your best way to build that is with good communication(listen more than you talk), knowledge of larger economic factors, and knowledge of  your specific market or niche, being highly ethical, and being highly motivated.

Did you factor in renovations when you obtained financing?

Look at property taxes and factor those into your costs as well.

However, there are conventional products, that allow you to avaoid FHA (and the FHA inspection) with 5% down.A lot of the 4 family inventory we have is low in come by design.

Go to a design build contractor as they will have plans.

I think the biggest factor would be that for $300K you can't buy anything in LA (unless thats your downpayment... maybe) but for $300K in Bakersfield you can cash out a nice single family in a nice neighborhood with some of the top schools in the area, and people are starting to realize that.  

We understand that if the damage is caused by something outside the control of the tenant, we have to foot the bill but that is all factored into the rent we charge. 

The brokerage that I chose was designed specifically to meet the needs of investors and investor agents.