But if you can find a good operator and feel good about the asset, then private money lending can be an excellent way to invest passively.

Then plan and design how you're going to deploy that cash via what strategy your wife and you have confidence in.I use a excel or google doc and my first sheet would layout all of the details of the sale including all costs that go into getting closed.

Hospitable, hands down, is an excellent PMS.

For the tracker, I would just have a simple Excel sheet without generic entries 

When we moved our companies to a new accounting software we looked at Quickbooks, but found its international awareness (tax rules, multi-currency, locale support, etc), project/job, and multi-company abilities to be clunky.To be fair, none of the candidates hit everything on our wishlist.We ended-up selecting MoneyWorks by Cognito and have been satisfied with it over the past three years.

I would restate that the lease will remain in place until such time that a new tenant is selected and moves into the property.This approach will ensure your cash flow while acknowledging that 'stuff happens.' 

unconfirmed) - AMB rating A-, Excellent).

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

It’s on the rise but you just have to be selective regarding location and try to go for turnkey or keep it minimal regarding rehab  So you don’t have a nightmare story trying to manage a rehab from Out of Town. 

Many judges would feel you got paid even if no cash was sent to you.I could see this potentially working on a higher-end property that it in excellent condition with a Grade A tenant.