Sometimes you will do bad and you will be stuck holding the bag and NOBODY will bail you out.If he did a great job give him more business, pay him on time, answer your phone when he calls, and support his business.

In fact, you should pay for property maintenance, not expect the tenants to do it.

Meaning that if your expenses exceed your expectations, or your vacancies/non-pays exceed your expectations, and you don't have enough buffer in place, you'll have to come out of pocket to avoid losing your assets.

A 1031 exchange is a tax-savings strategy that allows investors to postpone paying capital gains taxes upon the sale of an investment property by reinvesting the proceeds through the purchase of another property (i.e. a like-kind exchange).

I guess the proxy might be what the person is paying now provided this isn't their first. 

This is perfect being 2 doors down from where we live so we do not have to pay cleaners and property management.

Section 8 can be great because the tenant is only paying a portion of the rent, but managing the tenancies is not easy, especially a hard no from out-of-state.

Also fewer farmers will want to pay the extra $1,000 to $3,000 per acre you’re willing to pay.  

As these numbers really effect what you should pay for the building.

If the property goes unrented or is rented but the tenant doesn't pay can you cover the mortgage, eviction cost, renovation cost and holding cost during that process and pay your bills?