I was planning on doing all the renovations myself over time, so both the necessity for a contractor and the 6 month renovation time may be a problem.Since this is an FHA backed loan though, you should be able to get the same or a slightly better interest rate from lenders.

Poorly house trained dogs can also create the necessity to replace all carpets and pads to remove the odor.

Ryan David gave a good way to balance the fun along with work necessities.

It is interesting to see that quite a few primary markets (Phoenix, Colorado, Charlotte, Indianapolis) are still seeing stable occupancy rates and growing rents in both Lifestyle and rent by necessity apartment groups.

Anyone know of anything unexpected that I might run across In a new construction duplex(VA purchased) that would make property management a necessity?

My goal is to eventually supplement my income with additional cash flow, further diversifying my portfolio of investments, and building long-term wealth that can result in early retirement and only working out of desire vs. necessity. 

However, the route I am taking with the business a brick and mortar location isn't a necessity it's more of a passion project. 

Newbies aside, all investors by necessity must become their own appraiser, and frankly will often be as good as any professional one (eventually).

I could be wrong, but from my understanding, air conditioning is a luxury and not a necessity in the eyes of the law.

When it comes to the landlord/tenant relationships, having a legal lease, precludes the necessity to negotiate.