You already have some experience and with additional effort, will quickly climb the REI ladder to its pinnacle.To be more successful, you simply have to work on the other elements to progress your REI pursuit.As a fellow New Yorker, I share your pain with regard to prices and taxes.

I find its a pain to skip trace all of these letters.

Unlawful Detainer (aka eviction) is a pain, costs you both time and $$$.It's cheaper by far to just 'buy them out' and I mean offer cash for the keys.You need to decide what to do with any abandoned property and how to handle the deposit, but you're after possessing.

It's been nothing short of a pain piecing that puzzle together to make sure I have no days of $550 / night rental open because someone didn't overlap a stay.That being said, I see how high rents have been getting around LA where I live and I am considering buying a property in an up and coming neighborhood like a Highland Park and renting it out for now and then maybe moving into it within 5 years.

Electronic payments are great but that's a conversation you have to have with each tenant and that's a pain.

It will then not pose a health hazard.

Stay at the firm, not just because of the contacts you'll make, but because you'll have a pretty significant steady income behind you to catch you when you inevitably stumble, because you'll be able to glean knowledge from kindred spirits and because you need health insurance (I just threw in that law one, but it's valid these days):).  

It could be a real pain to deal with that distance.

Payments come from the health insurance - you would not believe the cash flow, but the required skilset - a combination of medical and real estate background - is also rare.

But you don't have to have a washer/dryer as thats what the laundromat is for.I'd add that fridge's rarely go out too but they are a pain to clean sometimes. :-)I would check your area first.