Also, I have heard that utilizing your first few properties without a legal entity and utilize umbrella insurance, then transfer them to an LLC (but I understand the taxation side isn't pleasant).Thanks for your time, appreciate it.

Yes, we were shocked at the rates when we moved from CA to TX in 2002. 

I suspect this Is owner occ product not NON owner occ.also prices could not simply rise forever.. so no shock here.

With cash and a high non-refundable deposit the seller one way or another is getting money 100%.When sellers go in and out of contract along with buyers everyone can get what we call in the business " deal fatigue ".You want the buyers and sellers to have as smooth as process as possible so that it is a pleasant experience and they keep buying and selling.

@Kyle Gregg I would be shocked if you could not find someone to work out that arraignment.

The biggest unexpected sticker shock was having to pay a plumber ~800 just to run the gas line 10 feet.

(insert shocked face here-- I wanted to bolt before the sun set!!). 

That is a lot less shocking than "Hello, I'm your new property manager that you've never met and didn't sign up with in the first place, but now I'm going to be handling your asset / coming by to pick up rent"I can't imagine paying a lot for this - 1 or 2 month's management fees sounds like a good starting point.

Last year, I rediscovered the site and was pleasantly pleased at how much it has grown and improved.Congrats on reaching the 300K member mark and I expect to see a 500K post soon.  

@Michael Sockwell,So you rented to a friend, never had a security deposit, they always paid on time, but said they would pay you after they moved.. they didn't.. big shock.