A professional manager can find qualified tenants who respect your home and handle day-to-day issues.

It also allows the manager to work directly with the insurance company to resolve issues efficiently.In Texas, this is part of the standard Texas Board of Realtors Property Management Agreement and is considered an industry best practice.

Make sure the condo is FHA-approved, allows rentals, and has no financial issues before committing.

The issue I see most is the cashflow gets crushed by HOA fees and the added headaches of having them tweaking rules etc. 

Tenant issues?

But during the buyer’s due diligence, several unexpected issues surfaced, each cutting deeper into the profit I had worked years to earn.The first issue was with the water lines.

@Jerry Tello I should have mentioned the laws and how they affect your returns vary tremendously from state to state, and sometimes county to county.

And for sure I highly doubt those that teach the common wholesaling techinques are not up to speed with all these new laws in all the different states..

STR is another concern, many towns have laws against it but most towns do not enforce these laws, just make sure you are aware of them becuase they can be enforced. 

@Ryan BroschardHi Ryan,You have hit a common issue many new investors fail to anticipate.