I agree that moisture in the basement can be a real pain.

The trick for the PM company is to know the pain tolerance of each owner and to determine that "perfect" fee to charge on every repair...A fee large enough to make the owner say "ouch!"

Investors I spoke with tell me the turn over is higher, tenants tend to be a bigger pain in the rear and it can be a huge learning curve for a newbie.

This will do a good job of giving you hands-on training in terms of dealing with tenants, maintenance issues, and the overall pain/pleasure of owning income-producing real estate.

There is a pain threshold that most tenants will accept but once pass that they will start looking for another place.Do you know your tenants?

The higher interest rates are going to be painful to the cash flow options.

It's a royal pain.

If pets pee on the straight up concrete floors, the smell seaps through the concrete and it's a pain to get rid of.

I did make money, so I proved that low income homes can work for me, but it was and is a pain in the but.

That can add several weeks to your pain.