(again expensive as pets and multiple people/rooms involved)  Do you ask them to file a claim on their rental insurance for meals/stay?

Living on a passive income isn't my only reason for wanting to be involved in the investment world because I've always been interested in real estate and will most likely also try my hand at being an agent at some point.

Ask the seller if there is an underlying lien (mortgage). if not, craft a deal that will make sense for you and the seller.

Part of my strategy for growing my rental portfolio involves having them financed and paying the mortgage back with the rental income.

Part of my strategy for growing my rental portfolio involves having them financed and paying the mortgage back with the rental income.

If you are looking to grow and get into REI in a big way, aren't afraid of a bit of risk, want to be actively involved and don't mind getting your hands dirty, I would encourage you to buy multi-families in C/D areas. 

I’ve been involved a couple of construction related suits, it’s never fun, and you’re not likely to be happy with the outcome.  

Frankly I just move on if an HOA is involved just is not worth the trouble having them get between me and my prospective tenants.

Some items to consider are accessible path of travel (gravel is not going to cut it), potential elevator, potential historical preservation involvement, and the biggest issue is if a business can garner enough clients to cover the cost and still make a living. 

These properties were well known to the professionals involved in finding housing for felons, sexual offenders  and people with mental illness.