Using an external insurance provider is but way to hedge and manage risk exposure.

Theoretically the HOA fees should be contingent upon what the HOA is providing for you (landscaping , external aesthetics and potential coverage for the unit itself)

The second approach is “emerging growth opportunities†where value investors uncover external economic or market activities that are expected to lead to growing opportunities in the long term.

@Jim Goebel,I'm going to be a bit harsher than some.

Prior to relocating to Texas last year we would manage the properties ourselves but after the move it became difficult and we had had a poor experience using an external management company.I am already negotiating on purchasing two single family homes that are already tenant occupied as well as waiting to see if a short sale purchase materializes.Almost all my experience comes from multi-family renters so if there are anyone selling or wanting to partner up, let me know.I've never tried a short sale before and the plan is to rehab and relist the house.  

I don't believe there is anything major going on externally that is causing that, other than just random luck whether the types of properties we buy are being released by the banks that month or not.The one exception was this summer, after the tax credit expired -- I believe this was a major external event that affected the market for several months.All that said, we're okay with slow periods where we aren't doing much...if we were desperate for the income at all times, we could certainly find deals by expanding our purchase criteria or expanding the areas where we purchase.

Putting it all in is basic handyman work, should cost you maybe a hundred each in any market in the USA.The slope on the garage floor is right for an external carport, the epoxy coating doesn't look like something that will react badly to UV exposure like the popular Rust-oleum RockSolid flooring kits, the light fixture looks rated for external use, but I'd still put those doors in within a month or two.You're doing good, Mark.

A market correction, however, would have no external affect on a fixed-rate mortgage such as this one, meaning that even if your house value dropped 50% compared to what the bank originally based their loan off of, they can't rescind anything because they already gave the money to you.

I prefer to keep as much of it electronically as possible.Yes, there are some receipts that I do not bother scanning, but for the most part it is paid via check or credit card which feeds into Quickbooks.All HUD-1s, agreements etc are stored electronically.Files are backed up in the cloud and on an external drive.

Maintenance is on us in MF for the common areas (weeding, trimming, external lighting, hallway cleanliness, carpet cleaning, salting sidewalks, etc.), whereas in SFH I just let my tenants take care of all of that.