Accounting would be more complex, but I'd have a better system, so budget five hours for that.

A neighbor of mine is a RE agent and he approached me with an off market apartment complex in Port Huron, Michigan that the owner wants to sell.

If you've found the property yourself and are negotiating with the seller, save yourself the added layer of complexity and just work with the seller yourself. 

It's different if it's a large multifamily complex that pays the PM a lot of money, but assuming it's just a single house or small multifam, the considerable amount of effort to manage it is not worth the relatively low amount of money the PM is making from the property--and that's why your PM is ineffective.

I can also tell you that claims ran the gamut from something as simple as a missed $500 lien to amazingly complex issues.I do believe the loss ratio of title insurers are considerably less than that of a property or auto insurer, a fact that some have used to argue against the value of a title policy. 

Purchase price: $650,000 Cash invested: $225,000 We purchased a 32 unit apartment complex just outside the down town area of Houston Texas - down the freeway from the Minute Maid Stadium.

Purchase price: $650,000 Cash invested: $225,000 We purchased a 32 unit apartment complex just outside the down town area of Houston Texas - down the freeway from the Minute Maid Stadium.

If I chose multifamily properties the goal would be to upgrade over time to larger complexes, if I chose single-family properties then the goal would be to hold on for a long time. 

So could also depend on where you think market is going.Some people say they only want to buy cash flowing properties...and I don't have a problem with that, but they also have missed out on plenty of opportunity in many cases as well.Think about anyone who builds a new apartment complex or does a flip.....negative cash flow day one, but hopefully windfall once you get it finished and filled up.

Think about this: Who in their right mind buys an apartment complex with 7% interest rate debt, at a 5 cap?