Also you can say the same thing about BP and everyone is talking about buying rentals.. its the herd mentality and when all these folks started buying in the deep trench after the GFC they expected the 2% rule or more that's where it was spawned.. now its 1% is acceptable and next thing you will know its .05%  etc etc.. the herd is alive and well in buying rental real estate in the US>. and I for one am happy to see it.. if the herd was not buying in many markets those markets would be flatt on their  @$$  and devolving but with all this out of state and out of country investment it saved many many cash flow markets from implosions.. since the organic market in the actual area IE local investors is not sufficient to buy all the homes that are there.. think about that one.. !!! 

I do have ambitions for the future to establish rentals and even begin flipping houses once I both learn the industry as well as have sufficient passive income to do this full time.  

@Ryshawn Cousar  When you say how do you go about it that presumes a lot of things not the least of which is the seller sufficiently motivated to do a subject to? 

Aren’t the $200* per month for cap ex and 10% I take out for repairs sufficient to cover those expenses?

Networked my way to getting a bunch of connections where it was legal, and began trafficking large quantities of pot from all over the US and back to Texas. 

Do you think the $1m for commercial property is sufficient?  

We have not built any substancial quantity of houses in the last 10 years after 2008; more specifically we have not built any amount of starter homes in Milwaukee since the 60s.

It is in the PM's interest to establish a sufficient density of managed properties in a given neighbourhood to support a routine check. 

And I know that legally an email or text notification which the tenant acknowledged isn't sufficient right?

The NOI (Net operating income) needs to be sufficient to cover the payment and some amount of spread.To make the numbers simple lets pretend the payment on the 50K mortgage is $500/month and the 70K mortgage is 700/month (these are likely high numbers) if the rents minus expenses (excluding mortgage) net out to 750 then the 70K mortgage is pretty risky since there is only a $50 spread and the 50K mortgage is much less risky with a $250K spread. if these numbers held up I wouldnt buy the property at all unless I could get a 60K mortgage with a 600/month payment and have a spread of $150 and 10K in cash reserves.