My involvement would go down drastically to where the only thing I'm doing would be funding the deals.  

I plan to apply for an FHA loan for my first investment if I were to find a deal, but if I can't something that works for buy and hold.

Decide how involved in real estate you want to be.

Continually communicate clearly with all parties involved to make sure that expectations are as close to realistic timelines as possible.

Even if one tenant is responsible for rent payments, the others will live there and impact your liability as a landlord.Accountability:Requiring all adults to apply and sign the lease holds everyone legally responsible for the terms.

Investing close to home allows you to gain hands-on experience, learn the ropes, and be more involved in the day-to-day.

I was involved in two small infill developments in Michigan (about 15 houses in total) so two very small parcels. 

However, in emergencies or cases involving health and safety, we would attempt to contact the owner first and, if unsuccessful, proceed with the repair as outlined in the contract.Regarding the hot water heater, do you know if it genuinely needed to be replaced?

First mortgages involves loss mitigation (occupied 1st) and asset management (vacant 1st).

Does the $45 discount apply for next renewal?