Components wear down and out.

I currently manage a long term rental and working on a single family home fixer (will probably convert to rental in the future) in Cali.

I follow the letter of the law( no matter how much I may not like it) that's part of my risk management and my reputation.

As someone who occasionally works with these investors, I always try to emphasize the challenges that come with real estate like managing renovations, dealing with tenants, and navigating market fluctuations.

Practical Tips for Managing PropertiesFinding Good Tenants: Screen thoroughly.

Managing a rental (even if it cash flows) comes with responsibilities, and it might not be worth it for $300 a month.

One reason was the condo management company wasn't doing a great job and there were always extra levies. 

It also includes managing your existing investment well to ensure you aren't bleeding money due to bad tenants, excess maintenance, etc. 

Reach out to Lisa Loesel at Short & Suite Management here in Milwaukee. 

The key is building a reliable local team—property managers, realtors, and contractors you trust.