Nothing indicates he's missed his obligations. 

I am looking to buy properties that will be minimally cash flow neutral with a long term appreciation.I will appreciate any ideas.

The reason I am thinking franchise is because my experience actually managing properties is minimal, all done while working a high demanding full time corporate job.  

I have one deal under my belt.....and thankfully did it when the market was still rising quickly as that is the only thing that minimized the loss; the list of mistakes is long and too familiar here on BP to waste space here.

If this is your first time buying I highly suggest you learn how to appropriately analyze a property by understanding the key indicators of a good deal. 

We are minimizing, but not eliminating risk.The problem is, on those occasions when things go wrong, we tend to be even more loss averse than we are risk averse.  

In addition, the deposit on the property is typically 5% - 10%, I have read numerous forums, etc. that proclaim that wholesaling is an excellent way to get started as a new investor with minimal capital available.

When we bought the last place with 6 units we sent contact sheets where they indicated their phones etc and emergency contacts as well as preference for communication.

We have picked up some pretty good deals that way for items where the damage is very minimal or doesn't affect the usefulness of the item.

By the way, thanks and you're welcome :) Bill Gulley - now that BP has "vote alerts", the vote vs mention really doesn't matter much anymore, except that the vote count is visible on ALL posts you've made - so that gives readers in other topics an indication of "worthiness" of your posts.