One SFH I looked at recently required that you stay in the house yourself for a year before renting it out.

I understand the general concept but I am not comfortable enough yet with the details to accurately explain the positives and potential negatives to my client.

While it costs little more money than your traditional plumbing, it can be beneficial in ways that your hot water will always stay warm and it keeps the water circulating with warm water, thus keeping your pipes warm.

Where we own is a fairly sought after location so we've been pretty fortunate all our units have stayed consistently booked.

I'd stay away from asking people if you can shadow them for a day which benefits absolutely nobody because a lot of it would be responding to emails, making phone calls, pouring over spreadsheets and figuring the margin on a deal which to someone else who is new would not be the most exciting thing of all time.

your post is another reason to Hire a Property Manager, they know what to do and how to follow it through according to the law, the Laws are changing quite rapidly its hard to stay current, thats what a PM is for its there job to stay current.

I’ve since joined BP and have devoured every podcast and decent book I could find, and have finally gotten to where I feel a lot more comfortable with real estate investing.

@Chandra MinterMy advice...stay in your lane.

But I’m still worried In the event that the house is sold that this comes up as the affidavit stays on the file. 

The very reason for a generic rule of thumb.LOL Thought Id post my expense averages over the years and remind folks that a 10% PM fee is way too low at least until occupied and stabilized.yes were I see the investors miss is that.. in many markets average tenant stays 18 months.. and hud will only allow one year leases so its not all that uncommon for HUD tenants to move a lot.. so every time that happens PM usually charges one month rent for placement. so you cant run numbers like your not going to pay placement fee's for 5 or 10 years you could pay those 5 to 10 times..