Kudos to him for doing it, but his rules and his dogmatic approach is also the same thing that made Open Door Capital a horrible venture because they skip over being pragmatic.

I was a landlord many years ago after I bought my first home, but that turned into a disaster when I moved away and had a horrible property manager for 10 years.

It can be good when everything is clicking, but it can also be horribly bad...and dangerous when you end up with a problem occupant.

Wow yes I feel like I'm hearing first-hand how wrong it could go, but I have a few questions and concerns if my standards will follow suit of the unlucky investors:-For sure I would want to work with Class A or B rentals (I had a property 5 min from my home and the tenant was HORRIBLE, so a reliable renter is CRUCIAL), but not sure if my price range would find such a tenant. 

But it looks like a horrible deal. 

My only gripe is that the bank feed connection is horrible.

If your a high income earner living below your means then this isn't a horrible strategy. 

Not horrible.

What precautions should be taken to make sure it isn't some horrible scheme, or gross incompetence behind a company we chose to go with.We understand that Turn Key isn't the best way to go, but for someone like myself, I have about 1 hour every two weeks to look into this kind of stuff, but I want to put some money into Buy and Hold real estate.

Horrible idea for a rental.