It's easy to use purchase metrics rather than current metrics and it's comfortable to have equity, low leverage, to be nimble for when opportunity arises, to think about retirement with low/no debt and just general ease with not having to churn properties to get the best ROE.  

You won’t be able to inject money from outside if you are short on cash available.You can’t get involved in any repairs or active management for your property as it would be an illegal contribution and the IRS will disallow your tax shelter.In case of liability arising from your property you may loose the totality of your retirement plan.

If an issue arises, record it on the maintenance request form and file it in that specific tenants file folder.  

A boot can also arise from the differential amount in the equity or debt of the asset being disposed of and the one being acquired.

A better move for both of you might be for him to sell you a {transferrable} purchase option:it removes your obligation to perform under an agreement of sale; the option fee is lower than the 10% EMD (but non-refundable);the option can be structured to be non-exclusive (for a lower fee), allowing him to sell the property himself (perhaps only at a price higher than the option strike) if the opportunity arises.

I have tried to not only do a good job of screening tenants, but also trying to be very responsive when issues do arise.  

I'm sure many more questions will arise along the way.Thanks!

I don't even let them look a lot a property that isn't completed.As stated above there are too many issues that can arise.

Hey folks, a new member introduction.Im generally here to obtain information and gather the necessary tools and resources in order to start the process of asset investing.I'm hoping to find a friendly, knowledgeable community to interact with and share any questions that arise .

It's only advised if you want to have a chance of your offer getting accepted ;-).But obviously, that means you want to feel confident that you can deal with any problem that is likely to arise.