In the meantime you may want him to be happy enough with a little rent reduction so he does not go running off to some Tenant's Association complaining about water in his living quarters.

As a partner I'll still have to call my GP to see how the investments are going, go to the property every now and then to see how its preforming, analyzing monthly rental statements or quarterly reports.

The fact that I can spend ZERO time in these deals and get paid quarterly is obviously very attractive.But, as you know, easier said than done.

From some research it seems like water sensors near water appliances, quarterly inspections, water proofing under sinks are some ways.

For sake of complete transparency, in Maryland I completed the classes online, joined Coldwell Banker and I am a member of the National Association of Realtor which I recommend:Real estate courses = $225 (PDI Training - one time)License fee = $91 (every 2 years)Realtor association fee = $721 (annual)Coldwell Banker Error & Omission insurance = $765 (annual)MLS initiation fee = $250 (one time)MLS fee = $492 (annual, paid in quarterly due)Sentrilock access card fee = $169 (annual)TOTAL - $2,709.This will vary by state of course, and by brokerage.You'll have some continued education costs as well to keep your license active.

That's because in New Orleans near the French Quarter you make 80% of your money on the weekends and when the weekends rent, depending on the season, if you're left with a Monday/Tues/Wed in between they're unlikely to rent, even if you drop the prices significantly, which I do.

I also am going to break it down by quarter so that we can see some velocity and see where the market might be going this year.

But hauling around 20+lbs of quarters is no picnic either.

However, in buildings that are already over that cap, the additional units can remain in operation.No short-term rentals will be allowed in most of the French Quarter or in the Garden District.Platforms such as Airbnb and HomeAway will be required to remove illegal listings.Short-term rentals that violate the rules, including regulations about disturbing neighbors, can have their licenses revoked.An 8.45 percent tax and a $1 per-night fee are already assessed on short-term rentals.

But take 10 pennies and 10 quarters. split the pennies up for cash flow and the quarters up for equity.