The management piece is going to require a lot of effort though.

The online rent collection has saved me a ton of time and effort.”

I don't know enough real information about the recovery effort to gauge if the storm impact is as significant as reported.

The online rent collection has saved me a ton of time and effort.”

I also do realize that all of this is easier said than done in a hot market ... so yes we all do need to exercise some discipline in our acquisitions to make sure we can still manage our risks and make the payoff worth the risk and effort, regardless of what sort of properties we are going for, or else don't buy if it is not.

Turning a hobby (owning in your own name) into a business always results in a great deal of duplicated and easily avoided effort and expense."... but, setting up entities costs $$$ ..." ... and losing properties in foreclosure doesn't?

Time is your greatest asset and setting up a until and getting it to the point of automation takes effort.

@Mike Hurney  – You joke but one day they are going to find a room full of money a Nigerian prince left behind even with all his efforts of trying to give it all away. =)@Steve Bracero – sounds like the one.

A good property manager can be gold in and if you work for a good company as a property manager there's a lot of room for growth as well as just being involved and then setting yourself up for the opportunity to invest on your ownMy property managers all have had no prior experience and really are not all that great and are paid 40 a year in just salary and if they put in effort to actually try to go above and beyond they can easily make double that.

@Jessica Harriet, the Portland, ME real estate market is very hot right now and a rent stabilization effort is on the ballot in November.