there is no percentage that will work with the large rent variances that exist between the various markets.  

I have tested it on my existing rental and BRRRR properties; it is incorrect more times then not.  

You’re ALWAYS better off investing locally, where it’s easier to:Learn the marketNetwork to find dealsNetwork to find contractorsBe more hands-onDriveby property to keep tabs on itNetwork to find a decent Property Management Company (PMC)Next best location is somewhere else you lived, where you have an existing network of family & friends to help you as accomplish the above list as needed.If you invest OOS, your biggest challenge won't be finding properties to meet your goals on paper, it’ll be successfully outsourcing all of the above.The biggest mistake we see OOS investors making in our market, over and over again, is not fully understanding Neighborhood/Property/Tenant Classes and how they impact your probability of success!

Step 3 is glacially slow and often non-existent

That’s specific to me because I have the background to develop it in controlled phases without overextending.On buying an existing park, I think a lot of “successful” campgrounds only look successful on the surface. 

So my running joke is that I pay myself with money that the IRS says doesn’t even exist.

Hey BP community,
I’ve spent the better part of a decade working with a client whose background is in acquisitions and analysis for some of the larger funds in the country. We’ve been talking lately about the Birming...

To me a tenant with a poor fico score is not good (has a poor track record of meeting their financial commitments) and high risk.  

I think integration with existing property management software would be key, as everybody likes to have everything in one place.

You’re ALWAYS better off investing locally, where it’s easier to:Learn the marketNetwork to find dealsNetwork to find contractorsBe more hands-onDriveby property to keep tabs on itNetwork to find a decent Property Management Company (PMC)Next best location is somewhere else you lived, where you have an existing network of family & friends to help you as accomplish the above list as needed.If you invest OOS, your biggest challenge won't be finding properties to meet your goals on paper, it’ll be successfully outsourcing all of the above.The biggest mistake we see OOS investors making in our market, over and over again, is not fully understanding Neighborhood/Property/Tenant Classes and how they impact your probability of success!