Done properly it's a powerful tool.Think about this, you don’t know what LEGAL forms you need, let alone what they are FOR and how to FILL THEM OUT.

Now this is probably not legal in most places and risky, and creates a full time job for you. 

Some of my leases need to be updated, including increasing security when increasing rent; putting in clear violations (such as tenants using electrical heaters, which is a fire hazard); having a reliable attorney ready should any legal issues arise.

@Dennis Rodriguez and @John Truong - Thank you both for providing input.After the initial overwhelming response to my post (bad joke), my colleague referred me to www.thumbtack.com that facilitates meetings between investors/homeowners and service providers of all types.I will definitely get a few referrals from the local REIA, as well.Wish me luck!

While you can’t completely control who applies to live in your properties, you most definitely can find areas that are popular with students, young professionals, families, etc. 4) just as important as finding the property, you need to have an exit strategy in mind for the property.

I’m definitely NOT looking to invest here in California - but I don’t know where I want to look yet. 

But I don't think roommate income is a thing, and existing roommate income definitely isn't a thing if it's an apartment you're renting.I recommend you find a local mortgage broker who does conventional loans, give him/her a call, and ask to have a conversation about your borrowing limit *before* going through the pre-approval process.

By definition a lessee/tenant isn't an owner. 

I went from 0 to 12-doors in just 2.5 years because I was able to force equity and refinance out.It's definitely more capital intensive and will feel slower at the beginning.

Definitely not moving forward.