Now that is probably an exaggeration but you certainly have expenses with your equipment, maintenance, fuel for commuting and equipment, insurance, marketing, etc.Further, in terms of opportunity cost, is it worth to save $16 an hour doing the work of your handyman (that you admit takes you longer and the quality may suffer) when you can be landing another deal that will net you thousands?

Being a long distance lender with three notes might be a little much for a beginner.

I mean given the limitations of distance.

Well, anyone buying long distance should be buying from a full service company unless they already have relationships in place.

Although, she knows my deals and knows how people react to them and the fact that this place is 100 yards from the best elementary school in town and walking distance (1/2 mile from the grocery.Right now the P&I I'm collecting is $485 so even if I have to pay them more than what I'd collect from the next buyer, and spend Christmas painting and cleaning, IF I could turn it for $77K, I'd have a new loan (assuming 8.5%) paying me $577, almost $100 more per month, with 30 years to run instead of 23.

Due to the distance away from Toronto, the price of the homes are less.

Another great idea implemented - the best real estate site around keeps getting better and distancing itself even further from all the rest ... thanks Josh!!

Long distance landlording can be risky for anyone, especially just starting out.

So far I've only had 1 no-show using this method, and he claimed to be within walking distance, lazy POS.

I also learned that 20 years later it will be almost impossible to get an appraisal on a Geodesic Dome because there are no comps within an acceptable distance.