The ironic thing was on their closing date they were told that their mortgage would be $100 less, but when they got this bill they looked at their HUD and realized that this $100 was for county taxes.  

Seems like the laminate would be a much easier and less time consuming fix for me. 

Or would you like to see that benefit earlier and start to consume the wealth with giving and toys and lifestyle?

@Greg Fuente I would start in one market, and find a team and iron out the bugs/details...

I agree, the ironic thing is I have been trying to get it rented and will continue to do so. 

That's how I found out I had a inch wide crack in my cast iron stink pipe.

I personally love rental investment deals because they tend to be less stressful and time-consuming.

Anyone that's been doing this for a few years knows more mortgage guideline stuff than a consumer will ever be familiar with.

It is very time consuming and a cumbersum process to go through every part of the eviction- posting notices, contacting the tenant, filing legal docs, going to court, completing the move-out inspection, itemizing damage (this is why you pay them in the first place btw) However, even if they get 100% of a month's rent as a placement fee, I don't think any manager wants to go through that process every month.

HOWEVER, if I hated work, had less access to financing, more free time, etc, I would want to flip - potential for great profits, but usually is time consuming.