Buying a turn key rental, in an area you know or knew well, with a property manager you've met and trust, in an area that is large enough for you to have other options to find contractors and property managers? 

Investment Info:Single-family residence buy & hold investment.

I took quite a break from buying properties and now on the hunt again.

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

I find it disturbing how many "business models" are all about suckering people into buying and even use skillful wording to deceive people into signing up.

Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.

Of course unless your buying defaulted notes at the get go then again as Chris mentioned this type of fee should be handled up front.. and if it new origination your making and then they go bad.. in your foreclosures you can charge the borrower these fee's when they cure or add it to you opening bid and when someone buys it at the court house you get repaid..

Buy where you intend to live, where you know the areas best.

For many young Americans, buying a home has always been a major milestone—one that represents financial stability and long-term investment.

You can offer to buy the upstairs residents an area rug, but I wouldn't force it on them.