And if you want, you can have the tenants call you first then you refer them to your tradesperson.But the reality is this:1) Most of the time you WILL be having a tradesperson go out to the property.

You gut feeling will always guide you, your assumptions of expenses should be reasonable in reality, you need to value properties in light of market conditions along with fair market rents.

The "Just buy the note and you'll be the bank" strategy is more urban legend and myth than practical reality, in most cases these days.

However, there is reality!

I own duplexes, and the reality is almost everyone who looks at a small rental like a duplex assumes that the person showing it is the owner.

By the time I kick the tenant out, cleaned the place up, marketed it to get a new tenant, at least 2 months would have passed.In addition to vacancy being lost revenue, the reality is, because of the costs of turnover, eviction, utilities need to be on to prevent pipes from freezing in the winter, etc., vacancy is also a COST not just lost revenue.

If we are talking about under contract then I'm doing 15 flips right now but in reality only about 6 because under contract means NOTHING.

. , in most northern parts of the country, lead paint, fuse boxes and asbestos are simply realities of homeownership.

@Tom Krol Bummer, but in reality you didn't really "lose" that money...you just swung and missed.

The reality is that they are 20% off the actual sales price 84.7% of the time.The only way to know the true market value of the property is to manually compare recent comparable sales.