In keeping with the topic of home affordability and millennial migration in the unaffordable Bay Area, this article speaks directly to the notion of why you need to "know your neighborhood," rather than basing your info off calculations (think back to stats analysis and data interpretation folks) and cross state speculators.

Bank will typically want it sourced and vested from you, they understand the notion of leverage so seeing that it's a second mortgage would not make you a very desirable lending candidate. 

The notion of splitting profits after expenses is something we have discussed. 

Both are licensed to sell real estate in their respective states.NAR likes to make a big deal out of their code of ethics and promotes the notion that Realtors are better for the public because they subscribe to a code of ethics.In fact - at least here in MA - virtually everything that's covered in the NAR code of ethics is replicated in either state law, MLS rules or both.There are only two exceptions I know of.NAR requires agents to arbitrate disputes, where I as a former NAR member and now not, have the option of suing another agent if it becomes necessary.The only other thing I can think of is that NAR requires you to tell a buyer's agent whether you have other offers, if asked.  

I imagine there could be some notion of "underwriting" tenants before making an investment.In this instance, with amount of information available online, I've been able to figure out who actually lives in the unit.

I probably agree with your notion about 10-12% management costs.

I know it wasn’t the OP’s intention, but posts like these further this notion that our tenants are somehow a necessary evil in our investing lives that must be endured and tolerated.

Now these are a mix of my preconceived notions along with anecdotes from speaking to realtors I know personally, and I’m sure there are realtors out there who may be able to shed more light on the situation or tell me different and I am definitely open to that.

That may seem like a tangent, but it really gets to the point that the popular notion is that buying a personal residence is not only an investment, but a darn good investment.

Hi Weis,I completely disagree with the notion that Washington DC is not a good area for the buy-and-hold strategy.