And do whatever it takes to own, like do minor maintenance, and get a part time job at Wal Mart or Home Depot on Saturdays for their "Home Purchase Savings Fund" (this is only $75 a week or $300 a month as an extra option payment).

In our State we are required to provide an annual income and expense statement to the Tax Assessor.

Now I'll give you a funny:The maintenance man called me to tell me that while patching roofing on one building he looked over and saw someone had installed a full size pool with pump and filter on the top of a 3 story flat tar roof building directly adjacent.

The lease terms are generally 5 yr leases with annual 3% increases and they usually request at least 4-5 5 yr option periods.

Regardless, if you have common area, you most likely need maintenance, if you have some expense responsibilities, you may need to have someone maiking sure they are handled.Mike made a point that you may not need management and that is true.

-vacancy rate-maintenance-utilities-property mgt-other-property tax-insurance

Absentee landlords and people who are in the home but can not keep up maintenance cause damage to the homes good citizens own.

According to some of the posts in this forum, I'm making a big mistake, but...Our HOA board has quit having meetings, quit doing maintenance on commons, quit taking care of the grounds, and can't tell me how they have or will spend the money.

If you were to buy this house cash, it would be returning about 21% annually without taking expenses, vacancy, etc. into consideration.

It offers easy set-up, low maintenance, low costs, pass through accounting, liability protection (one way), and much more.