Will you get another sob story on the seventh month about how she can't pay rent because her mom was laid off and she had to make her car payment with her gvt assistance?

I don't know how else to sum this up but was blown away when I just saw this 10 minute Vice - report on how Detroit is a heaven for investors buying off owner-occupied homes who fail to pay city-county taxes.

You don't see "TENANT FROM HEAVEN #1" but let me assure you that all of the tenants I have placed have been a dream!

If this is your residence and you're counting on using the two of five years section to exclude gains from taxes, and you've lived there more than two years but less than five then you better move heaven and earth to close this year.

I rent a tiny 520 sq ft single family house in a horrible neighborhood -I mean the worst, however it's this house is Heaven to me.  

So we just can't paint a broad brush on it and say being a landlord is heaven and I never have to work again. 

I will be putting 10k down and the other 40k will be financed over the next four years which in turn makes my payments $833 per month so with taxes and insurance that should put me at just a little more than my tenants will be paying, so if something goes wrong ( burst pipes, old furnace, or heaven forbid vancacy) I won’t have any money in the account to pay for it and I will be coming out of my own pocket.

Self managing an 8 or a 15 or heaven forbid a 24 unit takes way more work than having 24 sfh's.

The level of having a business in the commercial side contracting is heaven and earth than that of the level where investors hire their “contractors” (90% Joe +1 with truck and tools).

And yes, it is a little slice of heaven for my family to get away from it all!