Enforcement comes after the job is done.. you screw it up your going to get fined..

Ben Russell has done an excellent job of covering differences in the lease.

Otherwise, you can never attain financial freedom because rents will not outpace inflation.How long your rental income lasts depends on job growth in the investment city.Non-government jobs are inherently temporary.

Long term, the Austin market will do just fine with strong population and job growth.

I continued paying what I had paid before, with the additional money purely going to principal.The recast to a lower amount was purely to reduce my committed monthly payment to a point that I could get my property to cash flow if I had to move out (job loss, etc).

We often give owners advice before the turnover letting them know that if we turned over the tenant, how we could improve the property, at what cost, and what the rents would improve to.

Many first time investors don't realize that by getting into the management they are getting another job.  

Great job James, cheers!

They usually do not have these figured out, I mean sure, everyone wants to 'make money', or ' own 10 properties in 3 years', or (my favorite) 'replace their W2 job in 5 years'.....but they have not thought any further than those basic (and misguided) goals.

The city is rapidly growing in terms of population and job market with so many major companies choosing to move and develop here like Intel, Google, Amazon, etc.