I tell them I don't want anyone living in my properties that doesn't want to be there, and that is precisely what would happen if they signed a year lease and their situation changed.

@Tony AngelosThis is precisely my plan!

I'm definitely interested in B Markets considering the ROI in looking at (your range is precisely my target).

"New technologies are making it easier for small-time investors to become out-of-state landlords.Data services help would-be landlords pick neighborhoods with precision, feeding them detailed reports on sales prices, crime rates and local schools.

This may be someone who is new to the business but it is precisely those folks who will answer your calls and go above and beyond to serve you, as they try to build out their own business.

They may not be the most precise with a repair estimate but they will be solid with the ARV.

I don't add in social security when I'm 70 -- that's icing on the cake and outside my planning parameters.The beauty of real estate and my attraction to it as a 'late comer' after running my own business and trying the 'retirement side gig' for a while is precisely what you suggest -- what if a RE portfolio would net that $33k in beer money instead?

A typical rehab/purchase time frame is much shorter and the rental income is more precise - you can be very confident with your cashflow estimate.  

In view of this, I have a CPA prepare my taxes, for over 30 years, precisely because of it's complexity and the need to keep up with constantly changing tax rules. particularly in depreciation. 

In practice, the effect of tax savings is usually not included because it can be complicated to calculate.Note that cap rate is not listed above as a measure of return/performance, and that's precisely because cap rate is NOT a measure of return or performance.