They come up with values unhinged from realities of the market.

Most homes that I have seen which use a less open floor plan tended to be very expensive ones where real entertaining of clients and the like was a consideration, and curiously those people tended to have formal dining areas where you could not see the kitchen sink…

The reality is you would really be renting to and depending on the husband whom you can not screen.To be honest I have never had a perfect applicant so it has always been very easy to justify rejecting any applicant for a reason that is not discriminatory or a violation of codes. 

You may think you'll just hire more but the reality is the good ones are kind of unicorns, and you're going to go through a lot that don't do good work or don't report things to you that they should.

I've got about $10k I'm willing to spend, and here's what I've come up with as far as updates go:- Add shelving for grocery storage - there's very little today- Rehab the front porch (you can feel the plywood sink in places as you walk over it)- Repaint the outside of the house (paint is peeling)- Add a fence for the back yard- Add a back door (there's only one entrance/exit to the house)- Pave the driveway on both sides of the tree out front- Add exterior lights to the side and back of house- Update kitchen counters (granite?)

However when the inspection report came back they made me fix every single issue within the inspection report right down to buying new rubber stoppers for the bathtub and sink because the existing ones did not fit.

That cash flow on paper is non-existent in reality and I don't think the path of gentrification is predictable - will it appreciate enough to make up for all my repairs, etc? 

For example:General-Filters (furnace, air conditioning, oven exhaust, refrigerator, and water)-Stove burner when the “eye” needs simple replacement-Batteries and remotes that service the premises-Fan and light pull strings-Smoke and carbon alarms testing and batteries-Ensuring appliances are properly plugged in, hooked up, and used-Removing dirt, debris, and lint in and from connection pipes (e.g. clothes dryer)-Tighten loose screws on all home functions (e.g. doors, hinges, handles, socket -Balancing off-balance appliances-Cable, internet, and phone jacks-Fire extinguishers-Systems operation (e.g. security, irrigation, HVAC)HVAC-Monthly A/C filter and drain line maintenance Electrical-Reset “tripped” GFI breakers-Light bulbs (throughout and at the end of the tenancy)-Blown fuses-Reset breakers in the outside and inside breaker boxes-Socket and plug outlet coversPlumbing-Unclog drains or toilets-Caulking around tubs and showers as needed-Gas pilot lighting-Leaky faucets and shower heads-Toilet flappers, handles, seats and seat lids, tank lid, and flush kit-Sink and tub stoppers-If septic tank present, use RID-X as directed on consumer box-Proper cleaning of garbage disposal-Loose faucets and sprayer heads and hoses-Faucet filters (i.e. aerator)-Open exterior plumbing clean out when necessary (e.g. sewage backup)Exterior-Routine lawn (and pool) maintenance-Adjusting sprinkler heads as necessary-On the last month of tenancy, tenant must perform required lawn maintenance no sooner than 2 days prior to vacate dateThere’s a lot to consider as a landlord.

We're disclosing the realities of this business, and many of those realities are just not pretty.

A lot of landlords are advised to put their properties in the name of an LLC for asset protection.While this is basically true, the reality isn’t what most landlords think.If a legal issue occurs with your property resulting in a lawsuit, there’s a decent chance the plaintiff’s attorney will be successful in “piercing the corporate veil” of your LLC if you were sloppy and being able to sue you directly.