Cash flow has been really nice but we do have some maintenance/CapEx expenses like all homes have: thus far $5000 for a new condenser, $1000 for a new fridge, and $2000 for pest control. 

Jim invested in a small apartment complex, and within two years, not only did the property's value appreciate significantly, but the rental income also provided a steady cash flow.Real estate offers a level of control and tangible value that can be really rewarding.

If experience is the lone qualification, you can align with a good realtor and contractor and maintain far greater control along with benefiting from all of the upside.

Personally I’d go to Lowe’s and buy a set of machines that only has dials for controls, no electric, digital panel.

Local Regulations: How do local landlord-tenant laws, rent control policies, or other regulations affect investment profitability?

The possibilities are endless… Anything from guests leaving a bunch of lights on, to leaving the oven on, to leaving food out on the counter to rot and attract pests…Just wondering how people deal with this situation where the guests check out and the cleaners can’t go over there for a couple of days?

Treat it as business relationship where it is mutually beneficial not just some guy you are trying to control and squeeze every bit of "what can you do for me" out of.

It was a cluster of a problem getting one due to circumstances beyond my control but I finally found a good one.

@Saurabh Patel most important - take control of your property and the tenant!

@Deshen TangDo you want to be in control and more active, or completely passive?