It sounds like you’re looking to put your equity to work without the hassle of traditional rentals, which is totally understandable.If you're not interested in another property or dealing with tenants, here are a few ideas to consider:Invest in REITs (Real Estate Investment Trusts): This would let you benefit from real estate market growth without the headaches of property management.

@Bruce Yi, depending on your state's laws, request a higher security deposit to reduce/offset the risk.

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.

Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.

The property rents for about $4K/month total.

LLC corp either one is fine.. either that or they are totally incompetent.. 

Creative financing options like seller financing or assuming a low-interest FHA loan can also help you secure better terms.

Both lots were 20k total or 10k each. 

It's simple enough to make a row for income, and another for expenses, and then subdivide those expenses, and add them up in the total expenses cell and then subtract the gross income from those total expenses to get my net.

@Todd Anderson totally agree on finding a mentor in the market to learn from.