First mortgages involves loss mitigation (occupied 1st) and asset management (vacant 1st).

The purchase and sale of a business requires a lot more personal involvement than the purchase and sale of real property.  

Closing CostsMake sure you also budget for closing costs, which are a collection of fees and payments made to the various parties involved in your transaction.

WaMu was directly involved.

The point is that if you ever find yourself involved in an eviction or a contested deposit, you don't want anything in your lease or that you've charged for that will make you look foolish in front of a judge.

There are variables involved, and there’s of course skill and effort required not just calls.

The majority of our expertise comes from experience and having a specific book of real-estate clients who are involved in a wide variety of activities.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

We even had to do a lease back to them while the carport situation was being finalized.There is definitely some luck involved with every deal, but I think as investors we can create our own luck as well based on knowledge and experience.  

But I am involved more in multifamily and hotel resort investing now.