I have also been able to rekindle the dreams of that 10 year old, and I cannot imagine for myself a more exciting and naturally appropriate vocation.Thanks for reading and I look forward to collaborating with you all.Rich

Its human nature.  

In real estate and in life, Hanlon's razor seems appropriate "Never attribute to malice that which is adequately explained by stupidity". 

If I show them 30 properties and write 5 offers,...then when they finally get one property and use a different agent..well they have just wasted a lot of my time I could have been putting to better use.Now I have other investor clients who work with other agents and the nature of those relationships is different.

Taxes are the nature of the business, but it will give you a huge leg up against the competition because you have the cash to close on more deals. 400k today is worth more then what could be. 

I agree that maintaining the property, requiring the tenants to notify landlord of any hazards within a set period of time, performing routine property inspections, taking pictures of property condition prior to move in, having good contracts/addendums and having adequate insurance are going to provide good asset protection.  

It is more than adequate for your current needs.

This strategy positions YOU as the "Authority" as well as the natural choice when they have a referral of any kind.  

Naturally, there are going to be well run funds, poor ones, good individual properties and bad ones-so due diligence is paramount-but aside from that, any experiences and learnings pro or con? 

But I've learned so much and increased my knowledge from my Realtor-side that investing is second nature at this point.