Hi TomI bought a 2 family in Beverly.

Let’s also assume property location doesn’t matter in so far as the plan is for them to be professionally managed (ie, Texas vs Vegas vs Beverly Hills doesn’t matter so much but prefer not to invest in ‘war zones’)….

Unless you live in an area too affluent for novice investors to easily acquire a starter property (in my area, that would be Beverly Hills, Newport Beach, etc.) find neighborhoods with easy driving distance of your home, maybe 20-30 minutes max.

According to a report by CNN, the 5 most expensive housing markets in the USA in 2007 along with average home prices were Beverly Hills, CA $2,206,883, Greenwich, CT $2,018,750, La Jolla, CA $1,800,000, Santa Monica, CA, $1,785,000, and Palo Alto, CA $1,687,000 .The 5 least expensive housing markets in the USA in 2007 along with average home prices were Killeen, TX $136,725, Minot, ND $139,033, Arlington, TX $139,175, Canton, OH $146,333, and Muncie, IN $150,000.According to the National Association of Realtors, the 5 cities with the biggest drop in home prices in 2007 were Palm Bay, FL $182,400 (median price) 12.4% (price drop), Sacramento, CA $335,700 (median price)10.5% (price drop), Sarasota, FL $287,400 (median price) 10.4% (price drop), New Orleans, LA $160,200 (median price) 8.2% (price drop), and Hagerstown, MD $208,400 (median price) 8.0% (price drop).The 5 fastest appreciating housing markets were Bismarck, ND $161,600 (median price) 15.3% increase, Salt Lake City, UT $246,700 (median price) 14.1% increase, Yakima, WA $163,200 (median price) 13.6% increase, Binghamton, NY $119,600 (median price) 11.4% increase, and Charlotte, NC $220,100 (median price) 11.0% increase.

Not in a war zone, but not in beverly hills either.

I do understand that they don't want to pass out a lease they basically paid for that could end up being used in that community, but it also tells me they are pretty locked up in thier thinking, probably due to thier attorney.I'd say reviewing the lease prior to hiring them would be more than reasonable and you should be able to add any addendum you like, so long as it doesn't violate local law or custom and it doesn't make thier job leasing more difficult.It also tells me that in the event any issue pops up, this PM may lack experience in dealing from a managerial standpoint attempting to follow strict guidelines, doesn't sound like they might be ver flexible, even if common sence should prevail.Could be too you need to do some more stroking, making the PM more comfortable with your requirements.PMs need to understand they represent you, you drive the bus and they oversee your directions.

I also live in Beverly, MA and recently joined BP.

Hi Beverly,Sure, it is what it sounds like.

Forbes, Hamptons Magazine, Beverly Hills 213 Magazine, etc.

Beverly Hills.