Doing it this way has literally eliminated a week (in most cases) from our critical-path routine...

. -- You'll keep back maybe 5% of all rents for routine maintenance and another 5% for capX (big expenses like roof or furnace replacement).  

If you're going the umbrella insurance route, make sure it will cover you for several things including just the routine slip and fall (like mold or earthquake).

TurboTax or other tools may be able to fill out the forms for you, but as soon as you wander away from a basic routine you're much more on your own for knowing what to put where.

The property manger takes care of the routine day-to-day stuff, but you reserve to yourself the final decision on the major management decisions.

I know first hand, it is not like that and RE, just like anything else is a long term wealth tool.Lastly, I can understand why someone local would look at what we are doing with a raised eyebrow as we brought a new business model to town and those who do not understand the model will by nature be suspicious. 

Now you've just bought yourself a regular route in your weekly routine, so you better get something close to you.

Yes, tax deeds are better for buy-and-hold but not for wholesaling or for retailing (although we routinely do this but only because we know what we're doing).

In general when analyzing the costs of my time, answering calls and performing routine minor tasks 10 percent is great.

Aloha,Renting rooms is fairly routine, but does require some additional planning and effort.