That way, you get into real estate without giving up a good income source.Is real estate your long-term goal, or more of a shift from what you’re currently doing?

Good question, Suzy.Then an email:  "I think something's not right. 

After sending out thousands and not getting responses, or at least not good ones, I stopped trying this marketing method.

Wrong Property Management ApproachIt doesn’t matter how good the people who are doing the property management are, if they are not using a property management approach designed for co-living, everyone loses.  

I’m not sure how good either are in your area but it sounds like you have a great connection with your father.

Basically - I want a PM who keeps the property in good shape and occupied to get paid, and a PM who is either bad at maintaining properties and finding good tenants, or just really unlucky, to not get paid.- PM charges 8% of rent, which escalates to 10% if the property exceeds 95% occupancy with rent collection. - PM charges minimal fees.- PM is contractually obligated to perform annual maintenance/inspection to keep property in top shape. - PM provides a cash based accounting report every month, for every unit under management, that clearly labels all rent, all expenses, including management fees, and the net directly ties to the amount of money deposited into my bank account.- PM is a licensed handyman, or has them on staff, and takes care of most unit turn work at a reasonable rate. - PM has no breakup/termination fee- PM does not take project management fees, except on large or complicated CapEx projects exceeding $5,000. 

The seller and their agent hopefully did a good job communicating with that tenant to set expectations.

Good luck. 

Good information!

What makes this a good deal?