The seller needs moving money, there are oftentimes an arrears that has to be paid on the loan, there are oftentimes HOA fees that are due, there are title costs, there are escrow costs, usually there is deferred maintenance, you have to make mortgage payments out of pocket until you get a renter in there, you have to pay utilities and taxes, and you need reserves in case it all doesn't go as planned.3.

Low vacancy rates often mean renters want to be there, and that makes life a lot easier for landlords.  

I am new to REI.

You've got a smart realtor - BiggerPockets is a great place to learn a ton and network with some amazing investors! 

First, they need to be depreciated over 39 years, not 27.5 like most residential rentals.

So glad to see my favorite insurance agent on BP!

Let them know you’re hungry to learn, can help with anything (calls, research, showings, cold outreach, social media, whatever), and that you’re not expecting pay—just the chance to be in the room and soak it all in.Go to local meetups, real estate investment groups, and networking events (check out Meetup.com, BiggerPockets, Facebook groups, even your city’s REIA).

It’s definitely a market with its challenges but if it fits your goals, it can be a great place to make things happen.

Welcome to BigeerPockets,Josh!

Hey Shawne, welcome to the community.Wishing you all the best with your first BRRRR.