Some markets/classes though only work on a cash basis (sometimes money order) - for them, I have the rent staggered throughout the month (I don't manage that many units) so I'm not transporting too much paper "risk" to the bank all at once.

Anyone can show you a peace of paper that says they have insurance. 

A few bottles of water, a coupon to a local pizza place and 4-pack of toilet paper (just $1 from the dollar store) can really put on smile on your new tenant's face that first night in their new home.

My rationale is that I would rather own the property on paper vice outright, i.e. have the cash in safer alt. investments as you call it to pay off the loan, especially if the alt. inv. earns more than the cost of the loan.

What about fixing a clogged toilet at 1am?

It sounds good on paper, but reality is a different story.  

Go find the PDF of the RTA, print it off and put a copy beside your toilet so you can read it every day while you're in the right mindset.

The sales contracts I've been finding all seem to be stuck in 1975, when you wanted a piece of paper that made your lawyer feel at home, which you could xerox and reuse for every deal by filling in blanks and attaching appendices, without having to retype it.Even the simplest are still dark and full of terrors.  

It's inexpensive for me to file in my county (the entire process for one person is under $100) and at least an eviction follows them for a number of years.Personally, I hate it when a tenant views a legal document of a lease as nothing more than toilet paper.Gail

Take pictures of the home prior to renting it out and have that day’s paper somewhere int he picture to depict that the photo’s are current.16.