However, in my opinion that is much more of a business than a passive investment because there is a lot more day to day involvement (i.e. cleaning, advertising, changing rental rates based on day of the week/time of year).

Watch for an aspect of RE investing that intrigues you and sounds like a good fit for your skills, interests, and current financial situation.

Hello folks, I've been listening to BP podcasts for sometime now, and have decided to finally get involved in the forums.

UTLS  etc .. permits many CA locations permits can be 50 to 75k per home.. but I like building these days as a preferable to heavy duty rehab.. last comment is log home in your area unless your way up in the moutains above SD  its too hot and sunny those log homes will get weathered pretty badly and they usually don't fit in the scheme of what is going on in the area like say a desert style home with stucco etc.. that can handle the heat and sun

I think I would have paid for a hotel for them for one night since there was a baby involved, let them get a goods night rest before figuring out their next move.

If he says it's good, I'd have a nice conversation about if the rental is a good fit for her or not.   

It depends on your ability and involvement in the process.

@Rob Barry there’s really no one-size-fits-all structure.

This is a property specific question, as the answer will involve further questions like: what does the kitchen look like?

However, for somebody that has a good portfolio and wants to simplify I would argue that refinancing and reinvesting is not necessarily the ideal approach given the stresses that it can incur.Again, this is coming from a place of ignorance since I am fairly new to investing but I think the beauty of real estate is that you can make it as complicated or simple as you like and tailor your investment to your vision for your lifestyle so perhaps the one approach fits all mentality is what I am against.