Paying rent will force you to maintain a personal budget, it will ensure your property produces the income necessary to operate the property, it creates a savings for you as a landlord so you can prepare for the next investment, and it shows how the property performs as an investment in case you have to sell.You need two accounts: checking and savings.

Section 8 is great but just be prepared to deal with the occasional routy tenant and extra wear n tear on your properties.

Seeing the place where you made so many memories with your family trashed, and then going through the emotional turmoil of repairing and remodeling it, knowing it will eventually just get trashed again...are you prepared for that?

It's important to take your time with tenant screening and be prepared to manage the property yourself.

I recommend at least every six months, but would prefer you inspect every 3-4 months and be prepared to hold them accountable if there is even the slightest hint of damage or odor.People with strong applications and good credit tend to be responsible pet owners.

You checkout on the website, they prepare a couple documents (including contract) and send it to you.

Be prepared for that.

Reverse exchanges may be possible for experienced well capitalized investors but for most, I would say it’s not really a practical option.Mike’s suggestions of being prepared and proactive is a good one.I encourage 1031 investors to start looking ASAP - get to know the market - identify potential buys - and start making offers - before one has sold their existing property.The issue becomes will a seller especially in a strong market accept your offer “contingent upon the sale of your property”?

If you were me, how would you prepare for this networking event?

Have your agent meet the appraiser and prepare and appraisal packet