Its not without hassle though, that's an important distinction, tuckpointing, brick sealing, and potential wall separation/collapse are always considerations. 

I think you need to make that distinction that your dealing with TX.. the laws in OR WA and CA are very strict when it comes to foreclosure rescue no matter how you do it.. thats why I do not do it anymore. 

There is a distinct difference between development and construction.

I think the value given to landlord- or tenant-friendly as a distinction is often confused, misunderstood, and errant.

There is a distinct advantage of having local management, though with technology it's possible to manage from a distance yourself.

Ok thank you I understand the distinction now.

What I remember so distinctly about acquiring the first rental is how there were a lot of documents and signatures, but no actual money at the closing.

From my POV.it really depends on asset class and tenant Class.. this is a huge distinction. my clients that I sold apartment complex to in Oregon with B class.. they pay 4% but then have to pay for on site manager as employee.. so 4% to manage the on site person so that person does not rip you off :).However for BP and I have to think the vast majority of the rental property investors on this site that have gone to  D C B out of state markets.. those props are not like a 600k rental in Denver and the tenant that comes with it.. or really any city with a A class tenant..

To clarify, the biggest distinction between a second home and a rental is the 10% down?

Here is an excerpt (edited slightly by me) from an Appellate Court case in Connecticut that discusses the test:"If an agreement is personal, it cannot be said to have run with the land and thus cannot have bound the future grantee....For purposes of the distinction between real covenants (running with the land, or touching and concerning the land) and personal covenants, a covenant may run with the land or may be a matter between only the purchaser and grantor.