Has been so much better then old school paper rental agreement and chasing people down for them.

Is your friend chasing ROI or lower work? 

Will try again, it gets a little tiring trying to chase these guys down..haha..

And a big issue is that a good amount of the supply is from new 'investors' chasing what they thought was a get-rich-quick scheme.

The CA investors, for example, come and pay 20%-30% more than what a local investor is accustomed to.This is the sign of the times when money is cheap, Yields are shrinking, and everyone chases Yields.Until the bubble burst...! 

If you rephrasing the podcast's advice it sounds like this: "Since the yields are declining in an area that you have probably spend a lot of time learning, analyzing, and thinking about, you shouldn't invest there, but rather chase yield and invest in areas whose characteristics are totally different, and arguably more complex."

The loss revenue due to chasing higher rental rates is an important lesson to learn sooner than later. 

It is monumental work that needs to be done and if your family member is going to be doing all of the work.....obtaining architectural/engineering drawings, submitting them to the city/county, obtaining permits, working with the inspectors.....or if you have to chase everything down, just keep in mind that it all takes time and someone has to do it.Or you can try a hybrid of the above two scenarios.....buy a "lived-in" property and have your family member remodel it to your liking. 

So the chose is yours, chase the free stuff without guidance, which could take longer or pay someone to put you on the path and guide you along the way to get paid quicker.

Chase Title in Reynoldsburg, Teena Collins.