Again, it is very rare for termites to cause significant structural damage to a house (Despite the pest control companies brochures that often suggest otherwise).

@D B I would look into local ordinances on rent control if they exist in the areas you want to invest in.

Remember you don't have to own a property to control it.Good LuckPaul

We spent the first few months learning everything we could about investing, which is to say we still have a ton of information to learn.We are members of corporate America and have made a decision to take control of our lives.

Unless you are good on bidding, managing contractors and controlling cost, avoid those.

Tenants the world around abuse included utilities if they have any control over them.

If you make the late fee ridiculous and it spirals out of control on the tenant they have little incentive to catch back up and it's often easier for them to sit there and not pay until they have enough money to move elsewhere.

Under the agreement, you could open an escrow account (if allowed in IN) and provide for benchmark draws.I control several properties in northern Indiana, and they are all held in Land Trusts.

They can do that with 1 or 2 holes and a tunneling device called a mole for obvious reasons.I do a lot of foreclosure business and 95% of the time the place has been vacant over a winter, sometimes more than 1 winter.

Although, I won't fight too much about giving up control of the day to day stuff as long as he/she continues to use the maintenance people and contractors that I have sought out and with whom I have negotiated for extremely reasonable service charges.