I recently had a landlord at a workshop who owned and managed a portfolio of low end properties for over 30 years, he is basically broke and can't retire.

I got a chance to drive a few of the neighborhoods to figure out where we want to buy.

My question is a very basic one .. 

That is basically an extra tax return, legal fees for setup, bookkeeping costs (if you aren't doing it yourself), possibly an umbrella policy.

Are you providing a service to help the tenants abide by the contract and basic living standards?

Plus if you bought with all cash from the proceeds of the sale you would be trading down in asset value quite a bit.Depending on the refi rate you could consider keeping this and refinancing it to pull some cash out which you could use as a down payment on another property.Just some thoughts, hope they help the issue with the refi is those rates at the new loan if i do a 75% LTV will almost overcome the cash flow its producing now and basically get to a break even point.

First, as Jonathan noted, the Hands off investor is a great resource to start thinking about what you are getting into and the basic diligence that is needed.You noted Passive Pockets.

And my current DTI is basically zero as I have no outstanding debt or living expenses right now.

Can someone please let me know the mechanics of the recording process on an owner-financed deal?We write up a deed and execute the sale. The deed gets recorded at the county level in NJ. Let's assume there is no CO ob...

@Jon Taylor I agree with those basic generalities.