If you contact me just have the model number and description of what the appliance is doing and I will be glad to help.And if you are in my local area I may even be able to physically help.ThanksMike

While selling is a faster way to generate income, if you build a portfolio of rental properties, you can keep the money coming in every month with little physical effort.

This option gives the lessee the right to buy it outright in the future if you want to, though for estate reasons, you may not want to exercise it.

From a trend perspective it looks like a trailing end of a Sellers Market, but while that is a trend every single property has its own story and there are deals to be had.The idea as a textbook exercise is sound - but will succeed or fail depending on the tenant and success you have with the renovation.1.

I understand that it depends on how much physical labor I am willing to put in but what I would like to know is what are the benefits from each method.

It sounds like a good exercise for you, so hoping to see the figures. 

The ability to buy and sell or buy and hold without having to physically see the house.This is pretty cool and I remember my first deal when I did a deal without ever seeing the house or meeting the seller in person.If you are looking to have more of a lifestyle business were you never to have to worry about going to houses in person, this could be a great fit for you.Also, If you like to travel and want your business to run from your phone and laptop, this could be the business model for you.Over the next few weeks, I will continue to write about some of the benefits, drawbacks, and lessons I have learned from doing 90% of my business virtual.We are also looking for some passive partners who would be interested in getting involved in some of our rental deals in New York.

A little background about myself, I live in a small town in northwest Wisconsin and I'm a physical therapist at a local hospital and my wife is an RN and we currently have a 4 month old at home (who also has lovely RSV so mom and dad are taking PTO to deal with sick babies!). 

As far as bank account, one checking account will work but some prefer to have another account to physically separate the reserve funds.

Physical and economic vacancy are submarket specific.