We definitely had some growing pains at first, but once we got decent tenants in place, we now have very few issues.

We did this for our out of country investors back in the day and as soon as word got out, they shut them all down due to the Patriot Act...Was a huge pain in the A$$.Doesn't the account holder have to show up in person otherwise they aren't eligible due to the Patroit Act?

If your low income tenants are a pain to manage, maybe trade into better neighborhoods or into commercial, outsource to a PM, so many options.

That is what insurance is for :)Insurance is a royal pain in the *** right now, but is still doable with the returns on the right property. 

I would just focus on $800/mo. rent and tight cashflow in negotiation with the Seller and especially considering that to get that higher rent you will need to undergo and pay for some upgrades and then.... just buy it.

What a pain in the ASHHH that was and the time we lost. 

Ahh yes the pain.

Insurance makes a suit less painful.

Hi Guys,As a fellow investor, I recently completed 2 renovation projects and went through the pains of screening several contractors.

But you are a rare one and most investors will not do as well.....you can read on here the stories of pain and angst from newbies who think that it will always be cheaper and easier....:-)I'm guessing that you would not advise every investor to go the Owner/Builder route....?