Are you saying that rent rolls won’t tell the full story and I should ask for bank statements showing those deposits?

Long story short, this fell through, and I was extremely discouraged.

Long story short, this fell through, and I was extremely discouraged.

But that is another story that involves bourbon, the Super Bowl and boxing gloves. 

In particular, there is a large garage with a second story that I could use to create another unit, which I'm sure has not been figured into the ARV I've seen online. 

With a turn key provider, I would say that you can get some good property and that is definitely an option, but it can be difficult to decide who to use and who is reputable and then to actually look after your portfolio once it is purchased, may be a different story especially if this is a long way away from your home base.  

We lost his money on one, and while it didn't hurt the family dynamic, my wife and I hear about it from time to time (the latest being that he is still burning through his losses on his taxes, since he doesn't have enough passive income/gains to use the whole loss yet).Stories I have heard: there are families that have been completely decimated by going into business together, and there are families that have run successful multi-generational businesses. 

@Christophe D. this appears to be a very minor situation when at least compared to other tenant stories shared in the BP forums.

What horror stories have you heard?  

Years from now, this will be just another one of your real estate war stories.