So I guess I am wondering why insure the property itself, seems like a waste.you're not accounting for the liability aspect. you have tenants, your liability insurance covers them.

However I feel like one MAJOR aspect is overlooked in his approach.

You would be better served focusing on other aspects of your life and financial situation before trying to get into real estate. 1) Leverage your college degree to get a higher paying job2) Refinance or pay down your student loans.

Don't skip this step, as it is critical for banking, obtaining loans, and for defining the terms under which you and your partner dissolve in the case of a disagreement. 

@Drew Markert I'd also just keep in mind a house built in 1990 sounds reasonably new and in a lot of aspects (plumbing, electrical, foundation style) it is very new, but a house built in 1990 could still be on the original roof, furnace, ac that if they haven't been replaced are going to be right at the end of their useful life.  

@Aaron PetersonI moved your thread to the landlords forum.Snow removal ... it will be here before you know it ... .I've already put our RFQ as we were not happy with our service in one city last winter.In our experience, when it comes to landscaping/lawncare and snow removal, anytime you cannot define where one tenant's domain ends and another begins, the obligation falls to the landlord.If you have a side-by-side duplex or a row of townhouses where each tenant has their own drive and patch of green, you can hand-off snow removal and lawn care to the tenant ... though you are just as often better served to take care of it yourself and bake it into the rent.Anytime you have stacked units or a block (such as a small purposely built quadruplex), the parking and green space are common areas (just like stairwells in the interior) and fall to the landlord.

If you are selling property, there is a lot that goes into it including marketing, staging, planning the open house and the legal aspects.

PM is PM, but returns are different in different places.Also, if you are looking to move your business online, I would spend my time working on that aspect of my business, and figure out how to replace you at the LA location.

Im just at a loss on certain aspects of it.

Sorry for the questions, the financing aspect of real estate investing is the one area I am trying to learn more about.