Small home repairs and late night phone calls are a minute part of land-lording, there are also a lot of legal aspects involved. - City rental certifications can be required- There is certain paperwork that you need to give someone at the time of signing a lease with them (lead based paint       disclosure and pamphlet, inventory checklist, etc...)- If someone stops paying rent you may need to go through an eviction process- When screening tenants you need to do a thorough check of who you're renting to- There are several Fair Housing laws you need to be aware of when placing a tenantOften times, a PM company will even be able to cover their own cost by receiving the highest rental amount possible for your investment, most likely higher than you could by yourself due to the exposure and avenues they have for marketing.

It can be a nightmare if you let your emotions get involved, but a lot of folks on bp evict tenants regularly and it's a pretty straightforward process at the end of the day.

Ultimately, our goal is to utilize the BRRRR  method but that would be years down the road when we can bring more cash to the table. 

What training course do you suggest to learn this method?

I've known multiple people in this area that do BRRRR method but they've always had an in (real estate attorney, contractor, realtor, etc.) in order to hear about the good deals. 

As I mentioned, the condo association docs don't prohibit it, but they still may try to block it and get lawyers involved.

He doesn’t want to be involved at all with the property.

And seeing the rough parts of the real estate world might show you which path makes the most sense for you as there are a million ways to get involved in real estate.

The rule is that your purchase price should be allocated between land and building in the same ratio as the value of each component bears to the value of the property as a whole.So let's say the property is worth $100,000 with $60,000 of the value attributable to land and $40,000 attributable to building (you can use any reasonable method to determine this; one easy way used by many is the assessor's split, though there are other methods that could yield a better answer for you).You buy the property  at a huge discount for $10,000

Others entry points could be the BRRRR method, or even buying a house and simply renting rooms to get started as a landlord.