As others have mentioned (besides the essentials like rates, mortgage, and maintenance), it's important to consider utilities, insurance, property management fees, taxes, furnishing, marketing, and legal requirements.

- Investing with a Friend: Tips on structuring partnership and legal/financial considerations?

Quote from @Kelly Farmer: My experience:Bought: March 2021, $64,900Sold: April 2024, $48,500 - $5,000 (agent fees/closing fees/etc) = $43,500Rental income (rents - expenses): $5,600Average annual returns: 2.9% (approximate)Net loss at sale: $15,800Positives:1.

I had never been to her property, all communication between was initiated by her, and I knew it was just a legal method of delaying her eviction.

Are you talking about someone who does all the deal sourcing, closing, and transaction management?

I own an escrow company in Irvine, CA and we can close your deal. 

As if they start the legal process the fees will go up significantly and you will continue to get further behind.

Also the course decribing the lot doesn't close by 35'...three parcels adjacent to ours that we share a boundary with have completed record surveys over the last 40 years and have identified and attempted to reconcile the issues using good survey theories (the art behind the math, who gets what and by how much and why).

While real estate investing isn’t 100% passive, it can be pretty close with a good team in place.

I highly recommend investing close to home because of the great Chicago Real Estate Investing.I love the book Mindset, The One Thing, The Power of Now -> all more mindset books but I believe in mindset first and then investing!