Unexpected expenses and day-to-day stresses of management 4.)

Run a "multi-level stress test" on your portfolio - what happens if one or more properties get vacant at the same, you get hit with an HVAC repair at the same time with a roof replacement, the property tax increase without the ability to increase the rent, a combination of the above.

In addition the unit was out for 3 weeks by the time they got it fixed.The same year, the garage door broke (stress fracture).

Turnkeys have been my preference because all of that stress is handled for me.

I will also mention that the mental stress is a factor for me that has some monetary value. 

Don t mix investing with life insurance.

If she doesn't remove the cats and pay for the damages after you have served her with the proper legal notice to comply with terms of the rental agreement, then you can move to evict her.But evictions are costly, time consuming and stressful.

Met @Devin McNichol (see selfie below) t a local Santa Monica REI Meetup group meeting at a luxury flip and we hit it off.

The stress was real, but worth it at the end.

My reasoning is because me and my wife will be in this area and can directly manage househacking, it's less stress and hassle on our end and we end up still coming out ahead because we can househack each house we have earning a considerably higher cashflow than traditional renting.