This is a recipe for disaster and I've learned that lesson already.

Living in the building teaches you a lot.One of the most valuable lessons while living in the building is that you must do your BEST at Tenant Due Diligence otherwise, you will have a neighbor you dislike!

This is the first lesson in delegation.

It sounds like you learned the key lesson here, which is to acquire income producing assets.

Glad we waited & learned our lesson before spending the $

I've learned a great lesson.....I need to have more than one objective inspection, talk to more agents and customers of the particular company I am going to do business with, and I need to clearly see what the city requirements are for rental properties before I go forward with my next investment.

Also, what additional things can be offered at the facility to increase cash flow (vending machines, fees for using arenas if not a boarder, lessons, etc.)?

Now on my third house in the Cincinnati market, I wanted to share some important lessons I have learned with rehabbing a house in the midwest.

Sorry for the rant, we have learned our lessons the hard way.  

The lesson I've learned is the market constantly ebbs and flows.