It takes work, training, skill and perseverance, and once you get the hang of it, they keep coming along.,  

If I get car jacked will they let the thief keep it because there's no clause saying he cant have it? 

Keep in mind that they can increase that period if they get complains from the community, so make sure you're in good relationship with your neighbors.

I do my own property management to keep my expenses low. 

Of course most GPs have personally put in money to keep the deals from sinking.

I'm sorry to hear that you lost your grandfather @Rachel JaneWith the condo, renting it out could bring in decent cash flow, but keep in mind the $800/month condo fees.

A reserve is unnecessary, but I still keep around $15,000 - $20,000 in my account.The point is, that you should sit down and assess your finances to determine what the worst-case scenario may look like, how much you would need to cover it without impacting your life, and whether you will need to build a reserve.

The plan is to keep operating the property as a PadSplit post-acquisition.

Thank you.Let's keep in touch.

For bookkeeping purposes, I recommend designating a separate bank account exclusive to the house hack activities to keep some sanity.