You'll spend more chasing them than you'll collect.

Protecting your asset is sometimes a  factor in an upgrade.

As long as it cleans my bum I don't really spend a lot of time thinking about it, and I suspect most of your guests won't either.  

Spend more than half of your total working hours in an RE business in which you materially participate.2.

However again if your bound and determined to buy the physical assset then you need to buy quality not C class.. you will NOT get consistent cash flow like you are thinking your will. you will have tenants stop paying you will then get NO rent for 2 to 6 months as you evict and then spend thousands rehabbing the house they just trashed..

I have another one were I optioned 120 acres that just got brought into long term planning for chips act. paid 5 million for it and spend 10k a month negative..

This is a diverse market and I would be more than happy to help you protect your investment by buying right. 

@Max Dauer just remember that even tho you may only spend a few hours a week actually working on them or dealing with guests, you are always on call.

Are your investments registered with either the SEC or with the California Department of Financial Protection & Innovation?

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.