It was either this or go into health and wellness and become a personal trainer/coach/nutritionist as that fits my lifestyle and routine.  

It was either this or go into health and wellness and become a personal trainer/coach/nutritionist as that fits my lifestyle and routine.  

The guests are super low maintenance because they treat your property like their own apartment. 

The first step for me would be to introduce myself to the tenants - in writing - with instructions for payment of rent, reporting maintenance, and a request to schedule an in-person inspection of their unit within one week.

Most will have a clause that makes seller responsible for maintenance and upkeep of property during contract period.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Monthly Income:$3,600Monthly Expenses:$2,886Monthly Cash Flow: $713.72Pro Forma Cap Rate:7.00%NOI: $25,188Total Cash Needed: $7,200Cash on Cash ROI:$118.95%Purchase Cap Rate:7.00%PROPERTY INFORMATION4-plex  (2 bed 2 bath units)Purchase Price:$360,000.00Purchase Closing Costs:$7,200.00(2%)Down payment: $0 (VA LOAN)Loan Amount: $360,000.00Loan Fees:$0.00Amortized Over:30 yearsLoan Interest Rate:2.300%Monthly P&I:$1,385.28INCOMETotal: $3,600EXPENSESGarbage: $40.00Vacancy: $360.Maintenance: $180Cap.

There was an episode of the podcast that featured a woman who had created a property management platform that allowed the owner to turn on/off features like maintenance services and subscribe for a flat monthly rate rather than a % of rent. 

We prefer to rehab our homes ourselves - keeps us from having to deal with major maintenance issues in the first few years - but the tight market has forced us to look at some rehabbed properties.

On a non-turnover year it will take you about 20 hours per unit and that is with minimal maintenance issues arising.