Simple process,  no tax implications, just some small due on sale risks.  

Jim,, we are seeing that here in PDX as well... and I am good with a market that does not have multiple offers.. it makes it very hard for people and agents to make a living if you only have a 1 in 10 shot of buying the house you want..so some stability and slowing down in my mind is a good thing.but what I see on BP is people read the hyperbole articles that misquote things.. and the next thing you know they are worried its 2008 all over again.. which ( and I could be wrong of course) but none of my bankers or those in know in finance world think is a risk.. only risk would be metros losing major employment.. then it affects everyone landlords businesss and prices..

You should be meeting with potential applicants and carrying out a personal interview to get a real feel for the applicant.

If it's the return you are more concerned with, you're probably looking at average 6 or 7 caps which may also be the case for many markets across the US, unless you want the higher risk that comes with 10+ caps like venturing into rough D class neighborhoods or go into markets that are much smaller, unknown, or worse  in population decline.  

I was wondering if I needed things like a copy of any insurance the seller may carry or proof of the tenant’s renters insurance, If that would be useful to keep on fIle.

It is an investment of time and as long as your $ are not at risk, thats OK.

I’m a married father of three (all under 5 yrs) with a good job and a spouse who likes the idea of financial freedom but is risk averse when it comes to investing.  

In other words, gold mine is mostly for builder since they are taking the biggest risk and land owner get the least since they have least skin in the game. 

Don't just rely on your agent to verify, because many agents don't fully understand the significance of that coverage, or better yet don't understand the potential risk/cost that could be incurred by you if you don't have the proper coverage. 

Hi BP members, what are your thoughts on 4-8 plex (1-2 Units) condos / apartments that are apart of a larger association (10 units)? I came across a couple in an area that I was already looking to buy. Understandably ...