I also track each property as a fixed asset, including amounts paid, closing costs, depreciation, etc so it gives a TRUE picture of a property's performance as an appreciating asset AND a cash-flow machine. 

I'm not sure if you have a Financial Advisor, but through the advisor I work with I was able to put some of my savings into a principal protected structured note tied to the performance of the S&P 500.

If they stop performing, it's time to "fire" them either by non-renewal of their lease, cash for keys, or eviction.

More NPLs vs. performing loans available? 

The margins are tight in this arena also, but at least you won't be cash-flow negative.Due diligence is key... you will probably want to spend some time learning how to vet sponsors and how to perform stress tests, etc.

The work was done extremely slow and now that we have been back to see it the hvac closet it full of trash and debris from their work and the unit is still not performing as it did for the 6 years before we rented it out.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

They will perform but not typically at a cashflow point.

Landlords, which financial institution do you use to refinance your performing rental properties?

I'm also very honest with my clients about how their property is performing.