Census Bureau.The vacancy rate on single-family rentals fell to 7.3% in the second quarter, down from 10% in the fourth quarter of 2008, according to the bureau.Here's what you need to know about making money in the rental market.The Traditional RouteMany investors become landlords on their own.Millions of the single-family homes occupied by renters are owned by investors who have just one such rental property, estimates Jade Rahmani, who tracks the single-family rental market as an analyst at Keefe, Bruyette & Woods, an investment bank based in New York.There are many benefits to going the traditional route.

I work a salaried W-2 currently (same place of employment for 1.5 years and pays ~$70k per year), but am interviewing for a W-2 job which gives a base salary + quarterly sales bonuses (~$60k per year with quarterly bonuses projected at ~$5-7k).

I drive about a quarter of what I once drove. 

I have taking 2 trips around the country going form national park to national park, I also Hike a quarter if the Appalachian trail last summer. ever sense I was deployed to Japan in the USMC I've been slowly reading and trying to self educate myself for about 4 years about anything that can relate to real estate.

I do mine quarterly, there is a lot that can change in 3 months, batteries in smoke detectors, leaks under sinks, furnace filters, roofs, cellars you name it.

If you are going to fund a $40k rehab, with quarterly advances to the GC ($10k per 25% complete), and you are a 50/50 partner, don't pay your $5k without your partner paying his/her $5k.

Check out Meetup.com and get you keyword alerts set up for the next BiggerPockets meetup that are held every quarter.

You allocate that based on square footage, so if all three units are the same size each gets one third of the cost basis, but if the main house is the size of the other two units combined then it'd be half to the main house and a quarter to each smaller unit.

Teri,They do it four times a year because we have 32 buildings and it is more convenient for HOA to break it up in quarters.  

Trying to do that would probably create instant problems and liability.If you have them sign an agreement stating that the basement is not to, and will not be used for sleeping quarters, it is possible that you wouldn't be held liable for them misusing your property.