Everything that David Beard wrote about the in-depth and multiple tasks involved with such a business is accurate.

I sure wish I had found Bigger Pockets earlier in my RE adventures, enjoy the site and good luck finding the right investment for you!

From my understanding its illegal to pay not licensed peoples a commision on sales but you can pay him to do a specific task like seeking out properties like a assistant but you can't pay them based on commisions but take a look at your state laws on that.

There are lots of parts of Real Estate I don't enjoy, but I let my staff do those tasks and I work on the things I like doing.

I'm sure your job is definitely going to come in handy in your real estate adventures to come!

i would buy a property without central a/c if I could buy it low enough, add central a/c and still achieve the numbers I want. but depending on the part of Norfolk it's in, you may not even have to go through that trouble. in some areas it quite common and acceptable to have window a/c. as for letting tenants supply/install their own a/c, I wouldn't let them. i'm biased against letting tenants install fixtures after some experiences in my mom's rental. it's amazing how people can mess up the simplest task. if buying 10 window units doesn't break the bank and doesn't greatly affect your return then go for it. it's definitely favorable to have a/c in the bedroom from a tenant's view. hope everything works out!

I've heard the homepath renovation loan for investors is a pretty daunting task but I will also look into that option further as well.

He self manages, so not running around to show and screen allows him the time to handle maintenance tasks and deal with other issues that surround his business.

Mehran-Im always up for new adventures!

I'm looking forward to making this a successful and rewarding (ad)venture!