Because you succeed with the househack, you are well-positioned, and also highly motivated to go after another property...rinse and repeat, and in 5-6 years, you have 5-6 cashflowing, (hopefully) appreciating, relatively easy to manage LTR single family homes.  ...or, perhaps you go into STRs after you househack--in which case, you will be much better-positioned and much more well-prepared to succeed with the STR (because you'll have the invaluable experiences gained from your previous househack).In skiing, we don't take beginners down double black diamond trails--doing that would endanger them and other people in the area.

I can comfortably say that a good contractor in Toledo is like finding a diamond in a pile of crap lolYou will find decent realtors, decent property managers, title companies, wholesalers, etc...One thing that is very hard to find is decent contractors.We have been buying a lot in the 43609 zip code the last year or so.You must be selective in this area as some streets are better than others.Area is becoming more and more owner occupied and some comparable sales are reaching $80,000+ which was un-heard of when we first started in 2014 and you could pick up a deal for $10,000 or so.The deals are still out there so just keep looking under every rock.Much success 🙏

Just like an investor knows how to spot a diamond in the rough, you can probably do the same with a PM company.

  =)  Fredericksburg is growing, has proximity to the Quantico base, and the 95 HOV lanes are being extended:http://www.virginiadot.org/projects/fredericksburg/i-95_express_lanes_fredericksburg_extension.aspI tend to agree with @Adrienne Green that JUST OUTSIDE Fairfax County is the best place to do this (in VA), but I bet it's also possible in a few closer-in areas, such as Springfield or Alexandria, where there might be "diamond in the rough" older houses and where your commute might not be too bad (train or Metro).I know a fabulous agent in Fredericksburg if you want a recommendation.

On the other hand, there will be diamonds in the rough looking for that extra push and knowledge to breakthrough to the next level.  

Also I was thinking of putting the word out on Facebook for folks to keep eyes open for empty houses and mail out letters to vacant home owners trying to find the diamond in the rough.

Also looking for that diamond in the rough.

Then you can have tens of thousands in principal paydown as well year 1.You are not going to get 10,000 a month off of useable cash flow for 900,000 investment with a diamond NNN property and tenant especially in the 3 million range for STNL.If you were buying a 10 to 15 million property then the cap rate can rise some as pool of buyers is smaller so supply and demand.Many of my clients are high net worth or ultra high net worth.

If you can overcome these things, you'll be able to acquire the diamond-in-the-rough properties because you hung in there while others chickened out and gave their money to the stock market.Hang in there man - keep practicing your diligence, make connections, and be careful not to deploy capital toward a bad investment.

Diamond in the rough contractors & properties are a key component of the strategy.4.