The positives are that you get two different skill sets that allow you to see opportunities and think more strategically.

It provides a lot of helpful insight, and I absolutely do not want to put myself in that position.

We learned this the hard way in JP the first time we turned over a 3bd; left it offline for a month to gut bath and kitchen, ended up not renting it until February (only willing to drop rent so low - we were positioned to float it, just would rather have not - but feedback was all "I don't have roommates yet but I love it..." and we didn't want to match-make, either).

Much of the following depends on your capabilities and cash position, but I've always given people the advice to buy their first home with a 'safe' outlook with regards to appreciation, and schools.I don't know where you are at in life - if you've already made your first purchase, etc - but so far so good on those that have taken my advice.I think later on in life, if someone so desires and/or has the knack, is when it's appropriate to get into what a lot of folks on these forums do - the more aggressive projects where there's more money to be made.This is a round about answer but yes it's possible. 

Curious, under what basis is the insurance co. trying to put this on you.....the cause of the suit is not a covered action?

So if she takes action...she will likely have to leave the apartment altogether.

My biggest concern is that sweeping reform (which feels imminent) would take me from cash-flow positive to in-the-hole fairly quickly.

It is normal to expect positive cash flow when you buy an investment property.

You are one the people that motivated me to take action. 

I am always looking for ways to leverage.  As a landlord, the more properties you acquire, the more cash you will have to deal with and store.  With every rental comes a sizable security deposit that you will hold ont...