Another component is that we typically have tenants who stay for many years.

Define your goals, target market, and financing strategy.

Define your goals, target market, and financing strategy.

Define your goals, target market, and financing strategy.

Define your goals, target market, and financing strategy.

A million dollars is really not that much if you are going by one million in net worth (as I believe the book defines a millionaire).

As a property investor or manager, it's crucial to grasp the concept of capital expenditures (CapEx) in multi-family properties. CapEx refers to significant investments made to maintain, improve, or upgrade a property...

i've started to think of my rental income as one component of my financial portfolio. 

Lastly, your lease will look more or less the same as normal but you need to name the address and unit number (ie 123 Main st, bedroom 1) and you need to define a common area.

Define your investment goals, familiarize yourself with related terms, evaluate your financial situation, begin small, investigate markets, establish investment standards, cultivate professional connections, carry out exhaustive due diligence, investigate funding alternatives, and determine whether to manage the property on your own or by hiring a property management company.Decide what you want to achieve—stable cash flow, long-term growth, tax advantages, or all of these—and dedicate some time to learning about them by reading books, using the internet, taking classes, and attending seminars.