It hurts the tenants ability to find another rental, nobody wins, and it takes forever costing you money. 

Personal money How did you add value to the deal?

Well worth the money.

@Yooni Choi managing from out of state (OOS) with ZERO previous landlord experience - probably won't go well.You WILL make a lot of mistakes that will cost you money.

I was drawn to real estate as a way of investing money I have saved up (around $130K with additional funds to leverage out of a 401K if needed), and potentially creating reliable cash flow over the next 10 years. 

The #1 way to build a pile of money?

.- Put Upward pressure on real estate operating costs: Increased costs for raw materials and supplies, and the likely increased costs for labor involved in many real estate related CapEx and maintenance projects signal the risk of increase in costs for real estate operators.If there is no impact on near-term supply, a modest slowing of inbound (illegal) migration, more reason to believe that the cost of many goods and services will increase, and real reason to believe that inflation triggered by something other than an increase in the money supply (namely the cost of specific goods and services that are NOT housing going up, which comprise the CPI) will force the Fed to raise rates, this, on the whole, is not good for real estate investment returns. 

Our cash on cash return is essentially infinite as we make money on the delta between the yield of the discounted note that we purchase and the interest rate we pay to our passive private capital partners. 

Originally posted by @Jay Hinrichs:Although in the MFR realm this is not a Guru how to make money with no money..

But even to this day the money is always the winner not me.. thats how you raise significant capital ..