@Dan Heuschele, That's a very good point, because every time, I'm ready to pull the trigger on that house, I think about having to share it with strangers.

I agree with Russell that it is very hard to find a property with decent numbers unless you are ready to deal with areas that are going or about to go through the gentrification.

It’s free, easy to use and functional enough to get me by with very little work on my part.I’m getting ready to upgrade because I will be managing for others soon and I’ve been looking at buildium or appfolio which are much more involved and require a lot more time to build out.

I am ready and eager to learn all I can! 

I call the owner, asked if they would sell, they said they are ready to retire so yes!

That way your funnel is bigger to find the right property.Next, always be ready to pull the trigger because you never know when they pop up.Lastly, try to hunt down the property yourself.

They are far more time-consuming than necessary.I take pictures and/or video.

If the kitchen was just about ready for a fix up and you have a tenant who has lived there five years, then you will need to do some improvements before you can get market rent on the next turn over.This why I spend some time regularly looking at other ads on hotpads or Craigslist just to keep up on what’s out there.

Certainly doable, but be ready to grapple with the competition.If your goal is simply having an income-producing part of the property, another option is to look for a home with a basement apartment or carriage house.

However, after getting laid off I'm unsure I'll be able to have the funds by summertime when he could be ready to sell.So I've been considering a different route.