For practitioners in the real estate industry, the biggest challenge is not just the difficult work, high risks, or immense pressure, but the necessity to learn to let go of complete control over outcomes.

We built it out of necessity and started same way as everyone, cut our teeth on bad decisions.

Quote from @JD Martin: I can't speak to rates - I think eventually they come down out of sheer necessity - but as far as the economy we must be living in an insulated bubble up here in Northeast Tennessee; no one has bothered telling us the economy is bad.

I think it is an absolute necessity for out of state investors and a great way to build relationships as well.  

I need help finding statistics of appreciation, population growth, job growth.California of course has great appreciation and limited competition growth with high house prices making renting almost a necessity but I worry with more people leaving California then coming in this year that Phoenix might be a better investment in terms of long term growth.

Plus, they handle online rent collection (a necessity if you don't have a property manager!)

If you are doing multiple renters to one shared roof, then do yourself, your investing dreams, and your renters a MASSIVE FAVOR by learning & implementing coliving property management.  There is almost no unders...

I also have decided that with our current income, it is a necessity that our first property have positive cash flow.

Internet is almost a necessity nowadays. 

If your PM is only on Zillow than you selected the wrong PM, they are classified as a BOOB...Shelter is a necessity of life and there for it will rent but it will often come down to price and/or condition.