There's a mental strain to owning something you aren't sure what to do with...Set yourself free if you wouldn't buy it again today, then let us here at BP help you get into some real cash-flowing properties !

Even if you had 20-30, you would receive the bill, log in to your bank, set up the payment- done.

Hi friends,  purchased my first rental in may this year, got it rented in mid June, signed a 12 month contract with tenant, about a week ago tenant sent me an 'official' email that there is a mice/rat problem, although there were cheaper options I went with professionals who were charging me 7-8x only because this is a long term investment and I wanted to get it solved, the pest professionals sealed the attic and set traps, they followed by couple of times to remove traps and refill bait boxes, my tenant now sent me lease termination letter citing health concerns due to mice/rat problem, they paid for current sept month and said that I can keep half the deposit for Oct.What should I do here, they have three small kids so I understand the reason for concern but I am also doing my best to solve the issue, should I go ahead and accept their termination or should I fight it out, not sure if involving lawyer is good as I am trying to make some cash flow and not lose it.. please advice also I am from Texas and would love to hear about TX law on this.

Here are some recommendations for you:Read the Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing Join a local Real Estate Investors AssociationFind and connect with other BP members that are in your area: http://www.biggerpockets.com/meet Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of the person which should appear below the comments box.

The head aches involved with (I believe) setting up this way is that separate tax returns need to be filed for each entity established.  

My numbers tend to be conservative so that my clients make money EVERY deal (not to mention, set new price precedents).Cheers,Leslie BandyCA BRE: 01990425

I've been set up with an agent through my bank.

I looked at apts for rent ads that sat to over a monthThen I called and asked if they would like all their rental headaches gone.And talked to them like a friend asked if it was easy Then said I would be happy to take their problems away as I was young with tons of energy to do repairs, evict bad tenets etcAnd all I wanted to do was pay them a set amount   Each month as opposed to the up-and-down rental situation that had gotten themselves into Believe it or not the conversation can Flovent Easley back-and-forth them finding out about me and me finding out about them and what they're able to do and want to do

.- Set for life by @Scott Trench.

If the recession is long and deep you may realize some pressures to lower rents but if that happens then I'm not sure where you could invest that would survive that type of recession.