The vast majority of the country can only look at that level of financial freedom and wonder what it's like.I like how the CFP said that they are doing well but they could be doing more.

All of that will help and your properties are better than those purchased by the vast majority of new investors who LOSE money and are forced out of business in a short period of time.

While I interned at a major insurance company during the summers of my undergraduate, I saw some of the most brilliant people chained to things completely below their ability.

I made the mistake of taking on a major project early on and it kicked my a$$!

Check the recent major oil company's earnings.

The initial cost ($350-$450) plus the per visit cost (another $50-$60 usually) and you only get your money back *if* you have something major go wrong and *if* they actually decide it is covered amongst the myriad of exclusions.

He has been involved in this business for about 5 years (since he was layed off from a major company that he worked for for over 30 years).

Justin,Have you run into issues with the maintenance if something major went wrong?

The only thing I am worried about is major problems inside.

Here's a few others, if you're trying to detail these out.6) Insurance7) Make ready costs when one tenant moves out before another moves in.8 ) Discounts given to lure in tenants (aka "economic vacancy")9) Advertising10) Legal fees11) Court costs12) Property management (which you can earn for yourself, if you do this yourself.)13) Major repairs (roof, furnace, plumbing)The problem with many of these is that they are sporadic.