I am getting ready to purchase my first rental property, and am going through the process of what I want my leases to look like.

I have read The Book on Managing Rental Properties, (and have another book on the way along with preparing to get my real estate broker lisence).

They find and fix the deals and we sign the checks.The idea was amazing for people whose time is completely eaten up by our employers, looking for a way to create retirement with rental income.However, that is not at all what he did.In reality, he found the crappiest oldest homes ( more like death traps), that no other knowledgeable investor would touch, and upsold them to us for $20-50K more than they were worth, lied about the numbers, and charged us for repairs he never did.

Folks,For one of my rentals the rent is around $5k per month.

How much do you ask for the liability coverage to be when you ask your tenants to get rental insurance?

I’m Jason Bu and I live in Miami, Florida. Been looking into buying either an apartment down here or a house or multi-family in a city like Titusville or Fort Myers. 

It seems like selling and renting is the biggest wealth builder in the end Rent in a lower cost area with a lower monthly payment and use the difference gained  to invest in the stock market ( which would yield around 8 percent) Keep the primary and hold it long term ( average appreciation in california from what I could see is about 5 to 6 percent if you look back in time Keep it as long term rental ,it would rent for $3800 current mortgage is 6150 $ - doesnt seem smart to me Let me know if you need any more details in order for you to give me a better answer or insights 

Trying to keep it as long term rental, I'm getting 5/1 arm starting at 7.4, also 75% interest only 6.8%.. what would be the best deal to get out of the HM?

I disagreed based on my personal journeyI didn't have the money to invest in real estate, like buying a rental or even doing a fix and flip, my credit was horrible, and I could only saved $125 a monthSo I started wholesaling, and I was able to create a bunch of cash in 12 months and become great at finding deals.Then, I decided to start doing fix and flips, then rentals later on.I didn't come into the business to make quick cash.

you have to put the work in with the remodel either way but if they're high-end condos you can sell them each for more than the property as a whole and make more in one transaction than you would on a cashflowing rental