Tips for a New Investor?

[Stephen Twohig]

Hey everyone,

I’m in the process of purchasing my first rental property and wanted to introduce myself and get some advice from those with more experience.

The property is a single-family home in Birmingham, Alabama. It’s currently rented to a Section 8 tenant with a lease in place through 7/31/26, so there’s already stable income from day one. There’s also an existing property manager in place who will continue managing the property after closing.

Since this is my first deal, I’d love to hear any advice, tips, or things you wish you knew before buying your first rental—especially when it comes to:

• Working with Section 8 tenants
• Managing (or overseeing) a third-party property manager
• Any Birmingham-specific insights I should be aware of
• Mistakes to avoid in the first year of ownership

Appreciate any guidance you can share. Looking forward to learning from this community!