Overall it's gone beautifully (save the unexpected repairs of every sort.)

Upside fantastic program downside is when tragedy unexpectedly strikes and you need time, you have a better chance of nailing jello to a tree then to receive a call back from there legal department.Should you have any interest in discussing this further, please do not hesitate to contact me at Respectfully,Wehrle Ct, Long Beach Ca 90804

across the 3 properties i own/co-own, we have 15 tenants right now (+2 vacant units). of those 15 tenants, a handful have had to pay late over the last month. i know a lot of investors and property managers who would've given formal notices as soon as possible. that doesn't work for us.every working role i've ever had has been in customer service, and property management is just as much a 'people business' as anything else. as a property manager, you're selling a product/experience to a customer, and if your product/experience sucks, you'll have a hard time keeping customers around.part of providing a great product/experience, is knowing your audience. so in this case, knowing what type of tenants your units are going to attract, what exactly they're looking for, their pain points, etc. that said, an "a-class" rental require one style of property management to be successful, "b" requires another, "c" requires another, and "d" requires another.most of our units are in c-class areas. what i've found is most effective in c-class areas, is being human. if a tenant is hit with a bunch of unexpected expenses one month, they very well might not be able to pay in full on the first.

This can make it challenging for the property owner to cover operating expenses, make necessary repairs and improvements, or save for unexpected costs.

Conversely, and what people frequently don't think about, is if something you or a child of yours causes an accident or similar situation puts you at liability, then a litigious plaintiff can bring a suit against you and all of your properties held in your name. 

@Chad Duncan The intent would be to buy the property with a small down payment as this opportunity came unexpectedly and my down payment funds are currently allocated toward another purchase.

We had a house repainted a few weeks ago and it rained unexpectedly and they came back and addressed  the issues from the rain. 

Broker relationship, cold call, wholesaler, property management, by accident (?)

If accident happened (if any)Its really an issue which has to be dealt among tenants themselves, the elderly keeps ringing my doorbell and keeps warning me about filing a police case against my tenant whom she suspects has no driver's license with whom I had no issues for over two years now.

Disadvantages mostly come from a lack of experience or unexpected issues.