I know that there's nothing like hands-on learning, so I think its a good trade-off.

In my case I have a handful of properties renting for $800 per month that I paid roughly $40,000 for, thus a 2% monthly rent.

Not that its impossible because it can be done and if the law allows in thats ok on one hand.

The house would need some fixing up but we would include fix up money in the loan...This is where I sheepishly admit that every single time I got my hands on 5-10K for 10 years, I bought a house.

Mostly hands off, as tenants have been decent.

I've always walked in with my credit report in hand before I talk to a lender and ask them what they can offer to someone with a credit report like this?

But on the other hand, do you want them to make repairs themselves if that's what they decide to do?

Some need their hand held and led to a property and walked through every step, some don't.

I know I can just ask any question anytime here on BP, but I was hoping for practical hands-on experience.

If you do not want to have anything to do with tenanets you can flip or you can buy and hold with a property manager which is a hands off oppurtinity.