Just a lot of systems, paperwork organization, and staying abreast of/within the law (required notices, addendums, etc.).3) The screening criteria we use:650 credit score or aboveIncome 3x the monthly rentNo pets (depending on the property)No smokingNo evictions, notices to comply, or money owed to landlords in the past 12 monthsProof of income and financial responsibilityAdditional:First, last, and security deposit due at signing750+ credit score does not require last month rent (helps incentivize quality tenants)Best of luck!

However, the lower payments give you flexibility in case a major life event stresses your finances and/or monthly cashflow. 

- **Local Organizations**: Consider contacting local housing organizations or community service agencies that may provide assistance or resources related to housing and Section 8 applications.By following these steps, you should be able to apply for Section 8 assistance in Michigan and get more information about the landlord application process.

Ask anyone with investment property and they'll tell you it's not passive.I earn enough from investments that I could be financially free for life, assuming nothing major happens.

Obviously major issues like leaks are not something you want to over look.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

if the property breaks even, you should be OK since in theory there won't be any major capex for several years.

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.

I own a property in the Disney market and co-host/manage another 25 in the area.Disney I think is a good market if your goals are more aligned with traditional long term real estate goals, and a bad market if your goals are more immediate gratification and short term cash flow.The major benefit of the Disney market is that it's about the safest market you can find from a long-term perspective. 

I am currently a full-term student, majoring in business management.