yes, some people (who run it as a full time business) do well, just as some people who run automotive manufactures, chemical plants, and construction companies do well.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

For real estate specifically, it depends, in many instances an LLC is not required but ok as long as done properly (properties are bought in LLC and not bought and mortgaged in your name and transferred). 

Others might be fine with taking risk, but least by doing this a person can get an idea of what might go wrong.e) Legal document analysis: it will usually take a few days to go through the legal document properly, as almost inevitably there are tons of gotchas that either have to be explained, or mitigated with a side letter.That is the very short summary of what I do.

Try educating tenant on appliance and regular maintenance that needed, such as replacing furnace filter. and make sure communication is done properly in right format, like text messages and then follow up with call, if in need of Maintenace repair.

Hello BP Team.  We informed our tenants about the possibility of building two ADU's in our property about 2 months ago.  We spoke to each tenant and gave them a letter explaining our potential plans. The letter was a ...

If the Notice of Seizure is returned to the tax collector unsigned or not properly signed, the property must be physically posted as seized by the County Tax Collector.

I suggest serving the proper 3-day notice including all sums delinquent as of your posting the notice and giving them 3 days to pay.

I said it 10 years ago when I was on the BP podcast, and it remains true today....the biggest mistake investors make is an inability to properly judge risk.

Properly addressing these aspects will help you avoid any legal or financial issues.