You should also have clauses that protect the property, such as dogs and cats being on flea control medication, and the responsibility to clean up "deposits" from the lawn, and the responsibility to scoop litter boxes daily and clean completely once a week, etc.Inspect often, even if your tenants seem to be "nice people."  

Special thanks to Don DiPaoli, Jay Heinrichs (I apologize in advance for name mispellings) for the "reality check" of possible pitfalls in NPN investing, by breaking down what timelines, note guarantees/replacements, early loan payoffs, diminishing interest payments, etc.really look like.And very impirtantly, the difference between running a note business and note investing.As a former buy and hold SFH investor disenchanted with rental property issues, the higher returns,  lower stress and passivity of performing paper profits beckon and have become my goal.There is such an abundance of info I've been distracted and confused daily during the past 3 months from my goal-with matters and concepts such as the following: Which entity: C Corp, LLC or a trust to invest through?

I help homeowners / buyers get set up for a short sale properly on a daily basis and I'm more than open in pointing you in the right direction. 

Analyze everything that comes up on KSL.com and Craigslist and some of the daily listings from the MLS.

I've watched it daily for five years.  

It is on sale 4 or 5 times a year through HD's "Daily Deal".

Since they pay more on a daily basis than long-term renters do, it works to your advantage.

Find a niche (Government Leased properties, Subsidy based apartments, NNN leased investments, etc just to name a few) that interests you or a void that the marketplace may have and "touch" it daily.  

As a Realtor I get literally tons of emails on a daily basis from lenders with creative financing terms, no credit checks, limited documentation etc....

If and when I do my own deal, I will still hire a property manager to run the daily operations.