I'm stoked about my recent success - closing on my third rental property and getting it rehabbed and rented in less than 5 days.I closed on Friday afternoon and immediately went to work.  

So either way you are touching the transaction each month if you want to maintain accurate books, however the amount of time this takes is extremely minimal and anyone at a later date could be trained to do this.

But like you said, as long as you can maintain a healthy lifestyle.

But, if you charge more, tenants expect the landlord to maintain the building to a higher standard and to be responsive to complaints. 

If they do not reinstate the insurance you can evict due to broken lease agreement if it is in your lease agreement that they must have and maintain insurance.  2) what if they move out and have caused tons of damage can i make a claim on the renters insurance?

Well long story short, I tried to be to accommodating to them during my remodel and I did not maintain my control. 

Cameron, I liked what you said about maintaining a buyer's list and as I meet investors i will definetely take note of their contact information going forward so I can get back in touch with them when other deals come around. 

I understand that this house was ill maintained for many years causing the city some headaches.

I don't do that.LLC's tend to be easier to form and to maintain at tax time and seem to be more flexible than S-Corps.  

Is there a way to appease both parties while maintaining the seller financing terms?