They are super helpful, provide so many forms online necessary for the start up.

For operating risk, a common starting point is three to six months of fixed expenses at the property level—property taxes, insurance, utilities you’re responsible for, management, and a prudent maintenance buffer.

Common mistakes to avoid as an out-of-state investor?

Often there's an issue with common areas - which meter to put them on or will you need a third meter for common areas that stays in the owner's name?

My goal is to learn best practices, avoid common mistakes, and build lasting relationships that can help me grow in this business.I look forward to contributing where I can and connecting with others who share similar goals.

Another example would be that we have an internal price catalogue for common repairs/replacements that crosses from PM maintenance and fix/flips.

Rule #1 is to never be a forced seller, and too much leverage on a deal that goes sideways is probably the most common reason why that happens.I have done a deal where I bought a distressed property that could not qualify for a conventional loan with a HELOC, so it was a 100% financed deal.

Pretty common for sure, and might be biased but happy to go through some options for you to see if that would help.

Rehab costs are for me personally to figure , so I can properly negotiate the selling price with the seller.

.❌ The common mistake: collecting rents all year without setting aside a tax reserve.