@Brent CoombsAnd please don't tell Josh or Brandon on me….my two biggest nightmares I used to have were of Adam Levine and Sasquatch.

Not everyone is cut out to live with a HOA and they are the biggest reason why investing in condos for rental purposes is a bad idea.

I think a lot of people living in expensive markets on the west coast invest in OOS not by choice, but by necessity and that could be dangerous. the biggest problem I see with out of state is lack of control of the situation if the issues ever come up.

The biggest concern I have is that the tariffs he wants to put on Mexico and China will create a trade war and have a devastating economic impact.  

The only downside I've come up with that i would be forfeiting my county's homestead tax exemption discount.

Thanks @Tom Ott, those will be my biggest areas.

The biggest challenge ive run into so far is finding good leads.

Truthfully, I think this is the biggest reason people (and partnerships) get into trouble.  

You also get the some of the same benefits of a family; accountability with paying and mitigating potential damage being the biggest pro.

Biggest mistake I made initially was buying a home for 130k - it's a good home but there's only a small pool of tenants who can afford the rent I'm looking for.If you're thinking of buying a rental for cash flow purposes, please don't spend more than 80-90k on you first single family home - I promise you will cash flow much better and have a much larger group of (perfectly fine) tenants to choose from.I also don't recommend buying a home for less than 50-60k, as that will just cause too much tenant drama/repair headaches.