Besides what Jon and Joel have said about high turnover in one bedrooms, I'd add that your tenant quality in the $400 range could be challenging.

Some towns with colleges don't allow students to living in certain parts of town. they want to keep the drunken college students on their side of town. so far there have been no court challenges to either of theses zoning regulations restricting students or special needs.7.

Managing property can be challenging, make sure you have people in the rolledex to call if/when you're in a pinch...

Even more challenging is when the city/county decides the units need to be for "extremely low income" buyers, as opposed to low income or mid-low income.

Give them a "Cure or Quit" notice and demand they remove the animal or face eviction.

The challenge is to avoid having the heating oil level drop so low that the stuff at the bottom of the tank enters into the heating unit, since this tends to cause trouble.Now, there are some other things a landlord should provide - manuals for how to operate any appliances, for example.

They are able to do more challenging properties that other lenders won't take, such as turnarounds where your occupancy is at just 60%, as long as you can show attainment of a 1.30 Debt Coverage Ratio.With zero experience, partnering with someone on a first deal might make more sense, as experience is an important issue for many lenders.

You need to have the property inspected to understand the deferred maintenance you may face.

But her biggest challenge was severe pet damage and not wanting to show the house.

At the face of it, this seems an easy decision.