Little to no cashflow deals.
I’m in a hot market trying to find my first rental property. I started with a high expectations on the cash flow but after spending a good amount of time trying to find a deal I realized it’s not that easy so I adjusted my criteria to find a rental property with a low cashflow(around $100) after expenses. Am I makings a mistake?
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That $100 cashflow buffer will disappear real quick once you start getting vacancies, unexpected major repairs, or other issues. I'd recommend either working harder within your market to find a true deal (probate, send letters, or buy a real beater off the MLS) or look to the midwest/south and invest remotely.