It's a pretty broad question but I will try to give a few basics. 1) It can be simple but it is not easyGreat deals are found every day - but they are hard to find.

Realistically, you'll have some vacancy, some make ready expense, lease up fees (often charged by the PM in addition to the monthly charges), and some routine maintenance.

Is there any way to have a property management company handle the midnight calls, the routine maintenance, the drama, the toilets, the yard, and everything like that... but personally handle the tenant screening and application process/documentation?

Robert Burns you should listen to what Joe has to say even more then, because he's in the trenches everyday.

April Higbee,One of my friends took my advice, and did the 30 day spending diary.After 2 weeks, he looked to see where he could save some money.He decided to stop buying a lunch every day, and started brown bagging his lunch 4 of the 5 days he worked.Saving over $100 each month.Then he stopped buying his morning coffee on the way to work.He brought coffee from home, and used the microwave in work to heat it.Saving another $40+ each month.He did a few other things, after looking at the spending diary, and was saving close to $200 each month.Raymond

If so, losing a month is going to be routine every time you have a turnover, so you better just plan for it.What does your lease say?

Keep in mind, there is absolutely nothing wrong with my roof other than needing routine maintenance, it’s tile, should last forever.To make a long story short, I did not sign up.

Our house looked immaculate every day of those decades (minus the toy mess, of course).

At age 18 and tired of being broke, i figured i had nothing to lose and plenty of time to fix it if i did screw up. 25 years of basically working as a real estate investor everyday, (investors know this program,) I'm a self made double digit millionare.

The same question that hunts me every year raised its ugly head once again.Issue #1:I have two times of expenses, routine maintenance that sometimes is quite costly .. like labor and materials to repair main sewer .. or upgrading the unit after its vacated.Second category is rehabbing trashed new acquisition.IRS rule is relatively simple: If the item has short life span .. like a gasket or so .. labor and materials can be expensed in the same year.