Likely sounds crazy but I’m in the beginning process of purchasing an investment rental property. I’m familiar with the purchasing process and whatnot, but would be curious if anyone has feedback on managing the rental directly or signing on a management company? It’s going to be a single-family home for context. Do I need a lawyer for this endeavor, where is the best place to get a rental agreement, suggestions on rent pricing, etc. Any information would be greatly appreciated!
Unless you can get it at a 30%+ discount to comps, I wouldn’t buy right now.
If you do, I would manage it yourself. Use Google/Craigslist/etc. for determining market rents.
See if you can get the seller to finance or assume their loan if they have a good fixed rate (assuming you’re not paying cash).
Read, read, read and come up with your investment plan. I’d recommend Bigger Pockets pod and community.
Good luck!