My goal is to invest in RE holdings that allow at least a double digit cash on cash return but require minimal investor involvement to manage and operate.  

I would hope to rent the 2 bedroom unit on a month to month lease and then move in to it next year and hopefully just have the tenants in the 3 bedroom pay my mortgage and have minimal expenses while saving for another property. 

I have been burned in the past by insurance companies (as Steve B eludes to) and the LLC upfront costs were minimal going through LegalZoom and then having my attorney review the paperwork to make sure it was good to go.  

-Only minimal damage to your credit occurs because lender agrees to a settlement.

-Only minimal damage to your credit occurs because lender agrees to a settlement.

The ability to "talk the language" without needing an "interpreter" seems to give me the arsenal for success while minimizing the dependencies.I am looking at Temple University Real Estate Institute's online coursework.

Training can be fairly minimal as long as the call center has agents with good English and phone skills - and your manual is solid.

To minimize transaction fees, custodians can cut checks for recurring costs -- such for trash collection -- to cover three to six months of payments.

However I'm trying to find what the risk here is and how to minimize it.

Not All Fun And Games....Now I don't want to minimize it, or make light of it.