You'll need to manage your money well, but about the time you get tired of dealing with the day to day management, the slow season hits and you get a break.

How does this go - do they just keep bidding things up until the "little guys" tire out?

As of recent the IRS has gotten tired of granting the step up in basis to irrevocable trusts. 

Ever heard of "tired landlord" syndrome?

I've been listening to BP Podcasts for a few years and finely decided to kick the online tires. 

Purchase price: $42,000 Cash invested: $12,000 Found this 2bd,1bath 700sqft house via a snail-mail marketing campaign, the (at the time) owners are in their 50's, were renting out the house and were tired of taking care of it.

She was tired of looking at a ****** front yard.

But I understand if they need to use this (consult call)  to filter out tire-kickers. :-)   I’m hardly that and I’m ready to buy something now (several in fact).  

He is 87 and getting tired of managing his rental units we have been in talks for about four monthsI have known him for about 20 years all the properties are within 15 minutes drive timeHe did finance the deal transferred everything into my name and he will be carrying a first mortgageI have done many deals with him over the last 20 years this is the last of his residential property he just has commercial stuff leftAll the properties are rented 95% of them are section 8 terms are the reason I bought theseOn average I paid 25,000 per unitLet me know any questions you would have

This means you have less money available to maintain the property, which is how Landlords eventually get tired and defer maintenance and start the downward spiral towards being a slumlord.If you spruce up the units and rent them for $1,000 each, you will increase your income a minimum of $15,000 this year.