Since you're saving time and lawyers with a payoff, should be cheaper and you're in sole position usually to strike a better deal.Foreclosure - If you have a recalictrant owner, may be your only choice.  

Lean living, getting rid of "crap", doing with less...the reality is that once you do it, you realize how much less you actually need.And it doesn't mean that one cannot enjoy the finer things in life...it's about striking a balance between what you truly enjoy doing and having and then focusing on that.  

One-two-three strikes... they are out!

At such a distance, you will often be relying on the kindness of strangers to give you honest assessments about the property and tenants (and more), which may be hit and miss.Before making an offer, I may even think on it and scope out if a duplex in San Bernadino or something pencils out (more within striking distance to actually drive over and see the property, which is a real plus with buy and hold rentals).

If disaster strikes, it’s often a pain to get your insurance company to pay for damages because the burden is on you to prove your claim.

Some of them seem to market aggressively, and strike me as a bit 'scammy'.

Divide that by the yield you want to make (CAP Rate) to get to a maximum "Strike Price" (at least that's what we call it), which is the maximum we would pay for the asset.

Then, it would come down to doing some homework to find the property owners and reaching out to them, in hopes to strike up a good deal.

The air quotes because I will continue to look and strike if a deal is right, just not setting any goals right now.

The problem is, finding cashflow without the migraine.