Payroll, bookkeeping, etc can mostly be done remotely.Here is a great list of questions to ask a potential accountant:http://www.biggerpockets.com/forums/51/topics/70447-questions-to-ask-a-cpaAlso check out the www.NAEA.org page in your search.

There is a level of sophistication that needs to be understood in dealing with high net worth individuals.

I chose to down down the "Passive" path originally because I was too busy at work to do anything on the side and almost 13 years later it's still proving to be the right path for me.My suggestion is to consider whether you want to be "Active" or "Passive" and then explore the paths that exist down whichever makes sense for you.And, to answer one of your questions, you do not need to be an Accredited Investor to participate in some syndications (some allow Accredited Investors only while other allow Accredited and Sophisticated Investors).On a final note, I would be happy to help you on the Passive side in terms of questions, etc.

"Landlord Insurance" can mean a lot of different things, from a simple property policy to a sophisticated business policy.

They are great for the entry-level education piece, but as a person develops, they lack the higher sophistication needed for the more experienced investors.  

I promise I will do whatever it takes to be a sophisticated investor in the near future ;) Account Closed Big Thanks for the info, I'm going to check it out now!

The highly sophisticated financing system we have established in this country consists of primary and secondary markets.

more information:Purchase price: $470,000Less Vacancy: $8,793Total rental income: $66,645Plus utility income: $8,500Effective gross income: $75,145Less expenses:    Repairs: $7,280     Payroll: $3,380     Administrative: $1,170     Marketing: $234     Professional fees: $1,102     Utilities: $10,522Total expenses: $23,688      Taxes: $1,339      Insurance: $1,394      Management fee: $4,509Total operating expenses:  $30,929Net operating income: $42,915Does this look like a good deal?

I would really appreciate any feedback you could offer.Purchase price: $470,000 (cash)Less Vacancy: $8,793Total rental income: $66,645Plus utility income: $8,500Effective gross income: $75,145Less expenses: Repairs: $7,280 Payroll: $3,380 Administrative: $1,170 Marketing: $234 Professional fees: $1,102 Utilities: $10,522Total expenses: $23,688 Taxes: $1,339 Insurance: $1,394 Management fee: $4,509Total operating expenses: $30,929Net operating income: $42,915Does this look like a good deal?

We recently started playing board games again as adults and found there is a whole world of European (or Euro) style board games that are a lot more fun and sophisticated without being too complex.