Hopefully you wont have any type of incident that will leave you maintaing two properties out of pockect without rent but if the unlikely occurs and you'd still be able to handle it af few months, you are more than ready for you next purchase.Good Luck...

If I default on my mortgages in the corporation they can sell the houses, and go after me because I singed a personal guarantee, but again they cannot go after my wife's assets or our joint assets, unless she was involved in the bad act that harmed the folks suing or unless she guaranteed the mortgage.Hope this helps some, keep in mind I do not know the law in your state.

Once I select them and they select me, I need to teach them how to follow the terms of our rental agreement and I must effectively enforce breaches if and when they occur.

Need to leave some breathing room to anticipate things occuring.

Im always thinking of diffrent strategies To own property's and here is something I wanted some insight on before I try it.When a tax auction occurs the owner has a year to reclaim the property correct?

Not likely it will be granted, but there's no harm in asking.

Towards early April, Bob stated that a number of burglaries had occurred in the area, and that he had removed my oven and dishwasher “so they couldn’t be stolen”, though I know for a fact no oven or dishwasher was ever there.

I am learning in life (at least I'm trying) to not worry about things that have a low probability of occurring - especially when the pain that goes along with the potential problem is low.

My guess is there was poor marketing, poor tenant screening & selection, a weak rental agreement, lack of monitoring, and ineffective enforcement of violations as they occurred.

Seems they are not likely to inform you of maintenance needs or damages as they occur, so you'll need to be more vigilant.