We own three rental condos the last five years who have been producing quite well. 

Thanks for the incredibly helpful responses everyone! 

In contrast I have hired handymen that has produced excellent quality work.

After reading the entire Thread, I thought I would chime in as a Brooklyn, NY investor to contrast what has happened to me versus an investor that I know incredibly well who decided to invest in immediate Cashflow in Bristol, CT.

The tax implications could have been tens of thousands of dollars, or maybe more than a hundred thousand dollars.Sellers don't always do everything possible to help escrows close faster and many sellers fail to produce documents and get repairs completed as fast as they could.

I don't want Quit Claim deeds which is probably what their attorney will try to produce, and I don't want download MamaPorcupineLegalForm deeds, etc.   

Due diligence is incredibly important to have a much deeper understanding of what you are actually buying.

In other words, it's a loser from an investment standpoint.Sell it and invest the money in something that produces a good return.

The positive of the Roth IRA is that all of the gains/income produced are tax free.

Others have achieved success by using their education and producing income thru their deals.