You always want to take care of honest, reliable and amazing workers and if he is like that renting to him would definitely be a great way to take care of him.

See the attached linkhttp://city.milwaukee.gov/AreaPlans/NearWest.htm#....Some of the local bigger players/companies  supporting the project are Harley Davidson, Miller Coors, Marquette HS, Marquette university, Aurora Health care and  West End Development Corporation.

My brothers didn't seem to care much but the issue of "appreciation" was brought up too.

Sorry I am not more knowledgeable on the subject- I use a local CPA, Deweese & Associates and she takes care of it for us.TristanP.S.

There are lots of ways to avoid that destruction of capital (that don't include giving it to children).And some people care about people other than just themselves.

Think very, very carefully about getting into business with friends. 

I also figured if I get the right tenant I can negotiate lower rent for certain things like lawn care and such but again these are just thoughts running through my head at the moment. 

So, I usually see new RE investors get their best starts by jumping in and buying something manageable.That said I think you are wise to be careful to invest in a seller's market.My advice: dig hard to find a deal then jump on it.

If you want to try working with a PM again, we do have an option for owners to take care of maintenance, but we still list/screen/lease the property, man the phones 24/7, collect the rent, handle the accounting, do routine inspections of the property, etc.

Thanks-Harsh I am 100% for Cleveland, but you need to make sure you pick your properties carefully.