Why would you hand ~7k to the government over the course of the year.

When I first got my license.... way back when, someone told me, after your buyer signs the contract, hand them a bag of M&M's, and tell them to take them for the "buyers remorse" that natually comes afterwards.

Because of the difficulties involved in getting compliant, there are only a handful of operators out there that are even trying at the moment.

The attraction of a condo is less hands-on lawn care and exterior maintenance.

So I have a bit going for me there, I'm not afraid to get my hand dirty.

Someday - I hope to find a great PM to hand it over to, but for now - I just don't trust my local companies.

That is how you protect yourself if there is damage or arguments.When you hand out applications, it should say on there somewhere that you reserve the right to accept multiple applications and once and reserve the right to accept the best qualified tenant.

Second, I hand write everything and make sure to use real stamps not printed or bulk mail.

(not in it for the $$$, just to get into the market, PROBONO work)2. my accountant said I can't deduct any of the work I have done on it... b/c I am not generating any INCOME from it.3. in PA, I can't even management it if I don't have BROKER license (thank goodness for POA (power attorney)these are things I didn't know til after...I have another investor waiting (again a family) but I really don't want to do another probono work..... so I am getting my license now.Make sure you have in WRITING the 50/50 split, and that you have Power of Attorney... or open an LLC with both your names on it, and by it that way.we haven't decided to buy/hold/rent or sale.....my investor is pretty much hands off..which is nice bc they are out of state... but even still, "too many cook in the soup" can happen, b/c it is their 100% money and their property.without the POA...I have no say in this deal.

For the most part I'm venting here, but I'd love to know how many of you who are years into this and running a successful REI business for your selves, A) at the beginning felt like throwing your hands into the air, and B) what you did to keep your self from getting broken down by the difficulties starting out.To give a little context here...I have been feeling really great about the progress I've made of the last 6 months.