Bad management can tank a deal just as fast as anything else.Did you fire the manager and work on finding new management?

And how do you know it was this guy that took everything.

I thought it would be funny to cite his book and then do an outrageously bad job of asking. 

Obviously this could happen anywhere but I know it can be particularly bad for landlords in certain places like mine. 

When you pay cash for a $400,000 home and rent it out, your rate of return will likely be less than 6%.You could invest in stocks and earn 7% or better.You could put the money in a high-interest savings account and earn up to 5%.I don't understand why anyone would pay cash for real estate, erasing many benefits that increase the rate of return, while exposing themselves to the risk of loss (turnover costs, bad tenants, capex, etc.). 

I just bought in Indiana last month given how bad the numbers are here right now.  

I thank you guys for those insights.

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

He's got the #1 investor podcast in your area, his property management company is first rate, and he's a great guy.

These guys tend to be 1 man shows, and are generally drowning in work and would love someone to pour into.