Small rentals can be cash cows if you do it right and take advantage of some peculiarities in the market.

Someone doing something in a an old cow town in Texas may not be the same where you are.As to your disclosure, if by law it is acceptable then I suggest you make your assignment more of a notice of disclosure and require the acknowlgment of the receipt of the notice rather than the seller appearing to give permission.You can arrange the requirement for the seller to acknowledge the reciept of any notice required for you to perform in the contemplated sale in your initial offer, then the seller will have to provide you with your needed documents, like it or not. :)

I thought you guys might like this real cash cow..http://timesofindia.indiatimes.com/india/This-1400kg-bull-is-a-cash-cow-owner-turns-down-Rs-7-crore-offer/articleshow/44864006.cms

Break it down into more "digestible" pieces.  

I don't understand how a buy and hold rental property can instantly turn into a negative cash flowing cow so long as it was bought properly in the beginning.  

I'm also struggling to find a realtor that doesn't speak in 3 word sentences or even wants to meet in person to discuss my goals -- maybe it's just the area, heavy competition, and a lot of "investors" (probably like myself) who spin people's wheels without ever getting really serious.I'm also considering areas like Montclair and Bloomfield because of easy NYC access - they seem like they could be safer with longer term tenants, but I'm not as familiar with the rental markets.I'm reading and digesting as much as possible, getting familiar with terminology/concepts, but I'm struggling in general to get focused and be confident that I'm going about this the right way.  

I focus on the south island, mainly Victoria and the Cow valley.

Personally, though, I take pride in my product and want my apartments to be of a quality where I'd want to live there...not Architectural Digest but durable, classic, and clean.Can you invest in quality and also do well over the long term?

I think you're right on the money when it comes to building that review pool and/or recurring tenant base (even for less income at the beginning) and have slow easy-to-digest nightly rate increases as time goes on.  

I highly encourage those with even the slightest bit of interest to head on over to their site, dive in and digest as much as you can...you won't regret it!