This year, that's not terrible... if everything doubles in price next year, suddenly that $75,000 ain't so good.Maybe you could offer them a small equity stake to balance some of that risk?

College towns are good for rentals, although probablly terrible for a long distance rental. your turn over WILL be every year at a unit like this, one bedroom by the college.

oH.... that's just terrible, but makes a lot more sense of things...

It was terrible condition, had to take it down to the studs, redo electrical, anything of value had been stolen.

Frankly, there are plenty of agents that are terrible at this and they will be happy to take your money and deliver a crappy report.

Outsourcing Property Management isn't terribly difficult but it will require some due diligence on your part.

I like it especially since I no longer have to run the checks to the bank (Which I am terrible about.)

I have only gotten burned once with a terrible move out, but it certainly was painful enough.

However, by your numbers now provided, looks like each unit has a gross rent of $687 per month which is not that terrible (although it would be super ghetto in So CAL).

Texas has a terribly high cash flow killing property tax rate and has never had any pop in appreciation and never will.