The only thing I would have done different is that I would have handed off the letter requesting my insurance carrier to my attorney and not put a claim in.We NEVER hand out our insurance information until our legal counsel suggests it and even then, we let our attorney handle any claims.

My builder is handed the completed inspection and told to fix each and every item in the report, which he does.

On the other hand, if rents increase but expenses increase faster, the cash flow could actually get worse.The bottom line is that you should buy so that you have significant positive cash flow NOW.

So, there's still a manager involved, as well as the investor who master leases the property from you.Why not buy into a REIT or apartment company if you want that level of hands off investment?

With the cash in hand, you might be able to do this if you can find a really good deal.

It was a vacant property that didn't have a lock box, he had to get the keys from another agent and I offered to pick up the keys at his office so he didn't have to run to the property and he told me it was against the rules.The backup agent on the other hand I don't think is excusable.

This leads many into trouble.My favorite part of my Real Estate career is when I do profit share deals.I do deals all over the country where I hold the investors hand thru the process of a deal.I have one in closing right now that took $55,000 and turned it into $102,000 in about 45 days.That is more than 53% in 45 days.

I have seen MANY "resident managers" that had a pretty free hand with supplies that "fixed" and painted neighbors homes/apartments for a little "extra" income.

I'm quite happy with a relatively simple life, and I can only thing of a handful of things I would increase my spending on if I were 'filthy rich' (Upgrading my computer more often is one, getting a second net connection in is another - hardly expensive stuff....)

I found that five of them had changed hands to other owners.