Some are basically renting out bed space and require tenants to sign an agreement to stay clean, and be tested upon request, with failing the test potentially leading to immediate eviction.

Can someone please let me know the mechanics of the recording process on an owner-financed deal?We write up a deed and execute the sale. The deed gets recorded at the county level in NJ. Let's assume there is no CO ob...

Are you providing a service to help the tenants abide by the contract and basic living standards?

Plus if you bought with all cash from the proceeds of the sale you would be trading down in asset value quite a bit.Depending on the refi rate you could consider keeping this and refinancing it to pull some cash out which you could use as a down payment on another property.Just some thoughts, hope they help the issue with the refi is those rates at the new loan if i do a 75% LTV will almost overcome the cash flow its producing now and basically get to a break even point.

I am not kidding! 

First, as Jonathan noted, the Hands off investor is a great resource to start thinking about what you are getting into and the basic diligence that is needed.You noted Passive Pockets.

The kids can always go to a friend's house while you're there.I'd also look at when her lease is up for renewal and tell her you are not renewing her lease and she needs to find another place to live.

And my current DTI is basically zero as I have no outstanding debt or living expenses right now.

That is basically an extra tax return, legal fees for setup, bookkeeping costs (if you aren't doing it yourself), possibly an umbrella policy.

Hello,A job relocation to San Francisco CA early this year is making me ponder if I should be selling my owner occupied duplex in Jersey City and buy something in Berkeley CA due to its proximity to San Francisco and has some fairly decent schools  for my kids and also UC Berkeley .The low  2.5% interest rate on the Jersey City property turned into a golden chain but I think I am done with managing tenants and property and would like to get more into an Equity play.