Aim for $500/mo min and even that won't allow you to tap into unless that's after cap ex, management, vacancy is factored in. I

So, like everything in life, the work you put in is what makes you successful here.

At the moment, I am trying to get to know the market I am in. I

It is also useful for remote investors after they have chosen a market to invest in. I

All in, I think a large amount of GC's in the residential world tend to operate in less professional manners, which results in a lot of the problems we have read and seen above.

Maybe there are things I don't know and haven't factored in. I

To clarify, I'm not having trouble getting loans for my LLC, I just see posts and hear on the podcasts about people getting "up to 10" conventional mortgages for properties they buy as investments and don't live in. I

About 200 yards in, is the nearest towns trash dump. 

Thanks @Chris Seveney and @Andrew Postell for chiming in! I

My best advice, if your friend does move in, is to set up front what expectations you have (you mow the lawn every other week or first week of the months, whatever).