One thing I wanted to add that is not directly related to real estate investing, but can have an ultimate impact on it, is your health.

Your local health dept. should have list of those companies available. 

I attached a little doodle I just to illustrate this.

Kingston Property taxes: 3K-6K                                                     Allentown Property taxes: 1K-3KKingston Colleges: Kingston Center of SUNY                               Allentown Colleges: Cedar Crest College, Muhlenberg College, Lehigh University, Lehigh Carbon Community CollegeKingston Hospitals: Health Alliance Hospital (2 major campuses)Allentown Hospitals: Lehigh Valley Health Network (3 major campuses & numerous satellite clinics), St.

Then she mentions to me that her water is starting to smell weird and that the water is looking hazy and complaining that it may be a health hazard to her and her kids.

Bad health, reduced hours at work, the loss of job, financial emergency or other circumstances will not excuse any late rent payments.d.EVICTION NOTICE: Should the Tenant fail to pay rent by the due date, Landlord may serve an eviction notice, as required by applicable laws.Tenants agree that they are renting the premises together and yet each will be responsible for the full amount of rent regardless of whether any other Tenant within the household should fail to contribute their fair share.SECURITY DEPOSIT: Contemporaneously with the execution of this Lease, Tenant shall deposit with Landlord a security deposit in the amount of $__          ___ as security for the return of the Premises at the expiration of the term of this Lease in as good condition as when Tenant took possession of the Premises, normal wear and tear excepted, as well as the faithful, timely and complete performance of all other terms, conditions and covenants of the Lease.

Free food, subsidized housing and health care.

Shane is right , its Good to learn from someone before you jump, I Opened Own and Operate 2 RAL for last 15 years in Arizona let me know if if need info helped 4 friends open theirs 2 sold couldnt do the whole 24/7 life , other one is a Nurse Practicioners doing it as as house hack ( probably not recomend it) , if it wasn't for dificulty to find workforce in this area ( think chicken processing plants in Alabama have easier time finding workforce) and the Department of Health Requirements and Licensure Requirements i would have 30

For example for illustration:  Original Price: $1MOriginal Loan: $750k (75%) -- we paid 1% for the loanNew Value: $1.6MNew Loan: $1.2M (75%) -- would we expect to pay 1% ($12k?)

You illustrated exactly what many of us have been saying all along, me in particular, only to hear that there are "x" amount of hours in a week and more $ would be made from self managing.I could not agree with you more and I think it is wise for all the others to take a close look at what you have stated/illustrated.