Do whatever you can to increase your income, save-save-save and avoid consumer debt.

Now that I've consumed a ridiculous amount of REI information, I'm ready and will be closing on my first deal this month.

That's my story anyway.The obvious upside is that building a property management company can potentially enhance your deal flow and over time reduce your own management costs of your personal portfolio. 

@Nick Causa the reason is when lending to a consumer, the lending laws become much more strict with all kinds or regulations that are not needed for commercial loans.

But it’s a bit riskier as you are in the hole if property values take a dive.Leverage enhances your results. 

I will not give up just one bad tenant.I filed eviction yesterday and process server will deliver to tenant.It is very stressful and time consuming to all the eviction process.Learned a lot by expensive way; should not trust all paper works by tenants provided.I need to handle professional way and more tenant screening.Hope this will be my first and last eviction to tenants in the future.

The time consuming and therefore costly part of the job is drilling the holes and running the romex.

In the meantime I’ve been making improvements to the properties I own to enhance the rent.

@Justin Scott DealMachine is a great source that lists the associated addresses and phone numbers to the distressed home through the enhanced search link.

Are so much things that would not be as good when the owners themselves wouldn't manage it.An other point if your buildings are so time consuming that you are busy with it all the time, then I agree, you should hire a pm........ my main busy time is the first month after purchasing the buildings, to get it running, but once you've set it up right, it should be very easy and non time consuming to wrap it up... it seems to me like I mentioned,  that people read a lot and then get caught up in their dream bubble,  and they put themselves on the same line with Grant Cardone or other huge re players, and they think they don't have time to manage....... work hard so you'll earn money to buy more dealsand even when you'll have 1,000 units and will be very busy, it is still cheaper and better  (for the ones that can handle it) to pay your own worker to manage it, rather than just giving it over to a different third party company. .Regarding your point about my friend paying the whole management fee, I am an honest  person, and that's why I succeeded till now,  and I don't know, maybe I'm missing something,  but the way I look at it is as follows, if we would pay 10% for a pm company, let's say it's $10,000 a year, I would pay $5,000 and my partner $5,000, so now if I manage the property I see no reason why my partner should pay my half....