Graham,A Duplex for $200K is not a bad purchase so long as the taxes are fair and the rent does more than debt service the mortgage. 

Check out this recent thread on LLC’s, it’s pretty eye-opening that of all the very experienced investors on here, with centuries of investing experience combined, the consensus was that LLC’s are not needed for most investors:  https://www.biggerpockets.com/forums/926/ Of course gurus will tell you that you need one before you even have a single property, because it makes them sound smart.

@RebeccA Costa pay attention to Days On Market (DOM) for both sales and rentals.If you can find graphs of these for the last 12 months, you'll better understand the current market trends.

Everyone talks about the refinance in BRRRR, but the real magic is in the last R which is Repeat.

My focus is on areas with strong growth potential, stable rental demand, and lower crime — the kind of markets that can hold value and stay attractive to quality tenants long-term.A bit about me:- Based in NY, working full-time — this will be my first rental property and managed remotely, but I plan to visit regularly for due diligence and upkeep.- Conventional financing, aiming for something in good condition (or turnkey) so I can start renting quickly without heavy renovation.- My goal is to keep monthly cash flow in the positive while building equity over time.What I’d like to hear from locals:- Which suburbs have been performing well for rentals and attracting steady tenants? 

They just had a getting started class this last week. 

Making matters worse, 3-year maturities run out in the blink of an eye, and if the date comes up in the middle of a downturn, you’re hosed.  

I will say though last 90 days it has been slower than the last 4 years here in Oregon.

.- it is my belief in CA that a broker can hire w2 workers for virtually any role as long as they are not called a property manager.  

Here's what we use for our Metro Detroit market, which should be adapted to whatever market you're looking at.Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.