Why you should manage a property and Not own the property

[Adrian Smude]

This is about 5 tenants who I have leased to anywhere from 6 months to 9 years. They have all known me as the owner. The long term tenants always paid, but it was always late by a few days, weeks, and even months at times. I've been slowly re-training them over the past months. Last month I gave them the news that I will be the manager that ownership has changed, and implemented a new set of guidelines in which to manage the property. July was the first month all of the tenants paid on time, and even some were early! I did not have to chase a single person for rent! 

This is the difference of being a hobby landlord and having a business of rental property.