The judge laughed, explained I had every right to monitor the exterior of my own property, and immediately filed summary judgment for us.

Rodney nailed it.Good property managers are just like good renters: you need to know what one looks like, screen multiple until you find one, and then monitor to keep them on track.

The California FTB  sees through walls, they can monitor your phone location, see where you went to the ATM to get cash, audit your credit cards for purchase locations, in short ~ they got you.

@Steven Wilson I would monitor the general contractor's work but I don't have much experience in rehabbing houses, so I would want a contractor who knows what he is doing and would keep me updated on the project.

Thoughts about this latest Fed article that consumer "exuberance" might be tipping us into a market correction?

Fed Article - click
Some highlights from the article:
Our evidence points to abnormal U.S. housing m...

@Nathan Grabau thanks much for the link, I've been looking for a site to monitor rates on a daily basis.

I hear you on the idea of having that rental close by so you can monitor and take care of it but i think it really boils down to the risk you want to take.

Do you have any tools or suggestions as to how I should monitor the first home as far as expenses, Capex, forecasted revenue, etc.

Which phone service provider are you using for your fire monitoring system?

Renters’ insurance or homeowners’ insuranceHomeowners' association (HOA) feesRent (If you rent rather than own a home, instead of claiming mortgage and interest, you can claim rent as part of your home office deduction).Real estate taxesMortgage interestUtilities (Including water, sewer, electricity, security system monitoring, trash service, propane, natural gas, heating oil)Repairs and maintenance (snow removal, tree removal, repairs to home and or appliances, HVAC maintenance, carpet cleaning, maid service to clean the house, the cost of an electrician to install light bulbs or light fixtures, the cost of a plumber to repair a sink or remove roots from the sewer line)Converting from personal use to business useLet’s say you convert a spare bedroom for business purposes, all of the items purchased to furnish the new business office are 100% deductible.