My mom is a real estate agent and my grand mom has held a rental property for the past 5 years.

This is assuming you have held the property for 6 months. 

People love to think it was a ploy to get rich on the interest (LOL....) but most of those funds were held in non-interest bearing accounts.

It’s like playing poker.....no way to know until you do it.

Do not delay, as others have said, if something happens you could be held liable for the damages.

Everything that I’ve bought and held has ad some sort of cash flow off the bat.

I hear of plenty of investors living off their cashflow, but not sure if the funds are passing through an LLC in some manner r the properties are just held in their own name... 

You could, technically, just keep leapfrogging properties through 1031s until you die and leave your final props to your heirs, who would receive a stepped up basis (not owe taxes on the sale unless they held it long enough for it to appreciate further).

Most turnkey providers I know do hold some of the properties they find, but if they held everything they got, they'd run out of money pretty quickly.

I would love suggestions about what to cover and in what order, especially if anyone has held one before.