You will build relationships, nurture them, and stay involved -- and that's especially true with your property (i.e. asset) manager.I will add one more consideration for you to this thread, and that is reputation.

It would be extremely wise to have an attorney involved through the entire process.

The Aggie country is now represented.I have been involved in numerous real estate investments in Texas.

Getting a family member involved is a really good idea.

You also need to check on the issues with the SAFE Act, getting a mortgage originator involved is a good thing to do anyway.

Sold comps on a 2/2 in the same complex from August of 2012 (ugh) sold at $115K which would make the target property around $108 a sq ft (but it has only one bath and I don't know how to account for that in the comp - what is the "value" of a bathroom).I've stayed away from really looking at condos because of the HOA/condo fee involved and being subjected to the whims of the condo association, but I don't know if I should do that or not -- am I blowing opportunities by doing that.

But the stress involved seems like much less too.I'm interested in real estate groups in Nassau County to build my network as well!

That being said, you can weed out a number of tenants with a simple, organized screening process before they ever get to the application stage - this goes a long, long way towards minimizing the amount of work you have to do.As far as explaining the costs, you just have to tell your applicants what you said yourself - there are expenses involved in screening.

We have been involved in numerous audit matters and expert witness/deposition testimony where the fact that the investor did not report it on Schedule E was repeatedly brought up as evidence or proof that the investor did not have the intent to hold as investment property.

Just a math problem/dilemma...Moving in can't be done for a few reasons; the home is in a different city 55 miles away, it is occupied with good tenants who have been there for 5 years, and finally being a single guy I don't need to live in a 5 bedroom 3800 square foot house!