Is the property & tenants mostly easy to manage or is it taking up a lot of your time?

@David LewisRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

We were especially thrilled to start our investing journey with a duplex, and it was even better that the tenants desired to stay and had been consistent with rent for many many years.

You can create a formula for splitting that cost among the tenants.

One simple example, if you take two rooms and rent another 4 rooms, you will have two cars and each of the other tenants will have at least 4 other cars making you house to accomodate 6 cars.

If you tie the bonus to early renewals, a bad employee will renew bad tenants just to earn a quick buck.

Also think about where you can cut costs, can you self manage, find a less expensive property manager, can you bill back expenses to your tenants.

I just finished evicting 3 deadbeat tenants from my 3 unit property so it is all vacant.

He personally screened every tenant, handled every maintenance request, and even showed up to mow the lawn at his properties when the landscapers were running late.His phone rang constantly—contractors, tenants, vendors—all needing his immediate attention.

No dealing with tenants or long-term property management.