We always were naturals at picking that kind of stuff up.

The investors that took the risk then it is now paying off when they sell.There is a natural ebb and flow to when the herds feel it is safe to do something that is also the time when a majority of the quality properties have already been scooped up.I used to do more larger multifamily but in recent years do retail these days.

It is also a natural fit with financing and insurance. 

Ask them what needs to be done to each unit when you personally go and speak with each tenant or have a list of questions drawn up for your new PM to ask each tenant I.E. what can we change that would make things better, if you had a nicer unit would you be willing to pay more, if I do these upgrades will you resign a new lease or pay more, things of that nature.

I suppose it depends on the quality and nature of the direct mailing.What sort of "hit" percentage can one expect from this method?

By definition, you're hands off ... and that means you won't naturally learn and put yourself in a position to be exposed to more, bigger things.  

This community and website are an incredible resource for REI, knowledge and networking, although naturally more focused on the US market.

Found it via a wholesale broker.The extra bedroom isn't going to look completely natural, but there are not many 4 bed houses that are comparable to this one.

Naturally, I must set the deals up to start with!

Our property is zoned as multi-use so I have the idea of using it/getting it classified as a "boutique hotel" and renting out the rooms in the house.With this type of classification I'm assuming the taxes would be higher, etc for this use, insurance would be of a more commercial nature, etc.So should I try to setup the property as an LLC (to insulate it's operation from us legally)?