She stayed with me while sleeping on an old mattress on a dusty plywood floor, with no kitchen and a gross shower/toilet in the basement.

Not having tenants report maintenance issues and have a $75 toilet fix to turn into a much costlier backflow issue/flood.

But a leaking toilet or sink can soften floors here and there especially in rentals in parks.  

@Scott Jensen thanks for the reply, Your right about going back to the companies if it didn’t pan out

Part of the cost of doing business.Now if your city's ordinances require rentals to have gold-plated toilets, motion-activated interior lighting, and new interior paint every 2 years, then yeah, I could see how that's unreasonable.

We have 24 units and are constantly getting calls that the drip pan is overflowing and unit is not working.

@Tim Swierczek Thanks Tim I will definitely revisit the second home qualifications if the primary route doesn't pan out which is my first choice.

There will be stressful times, bad reviews, and busted toilets.

This way you develop a relationship, invest in their deal and receive the full benefits of owning real estate (cash flow, forced appreciation, and a tax sheltering asset) without the day to day hassle of tenants, toilets or managing the property manager.Best,

We all (should) budget for CapEx/Maint. and because we are savvy, we've talked to other landlords and found out what they are spending on repairs and maintenance, so not worried about clogged toilets, broken fixtures, etc.