To answer your question, it depends on the deal.

It also depends on things like if you're investing in debt or equity (for completely different answers...again more safety equals lower return and more risk equals more potential reward ).

Depending on the county, getting power, water and septic/sewer is a major undertaking and cost.

You do not always have to go the attorney route it really depends on your situation and what you are trying to accomplish.   

You can raise rents but there will be different lengths of time that you have to provide notice depending on how long the tenant has been living there.

Depending on your income you might qualify for the "Small Landlord Exception" to take the loss. 

Therefore, finding a lender familiar with both Homestyle loans and Community Second programs in your area is key, as acceptance of Community Second financing with a Homestyle loan depends on the lender's policies.

Quote from @Glen Wiley: I suspect that once I retire from my W2 I will probably set up a direct booking channel since I'll have more time but for now I am accepting the risks of depending on the OTAs in exchange for the benefits. 

Hi @Mo Nueman,Depending on what exactly you're doing/looking for, there are a few options.

I'm interested in a 5-unit or larger for my next purchase, depending on any number of other factors.Happy to be here and looking forward to making great connections!