I've sort of got this question floating out on another thread, but I want to directly ask:As a landlord with 3 rental properties I maintain a dedicated home office. 

I need to maintain the excitement, and loosen up a bit though.

When a Borrower fails to maintain taxes and/or insurance (among other ideas) the Mortgagee can make an advance and then the Mortgagee can demand repayment.  

My real estate investing dream, like yours, is to maintain a large portfolio of multifamily units that produce positive cash flow every month. 

But I work with people I trust and get my own home inspector and contractor quotes for repairs to try to maintain some independence.  

One thing to consider is that if you have RR tracks in the back yard you may have a hard time renting to a family with younger children (safety reasons). 

I work sometimes nights and weekends to maintain the properties, look for new ones and keep the accounting in order, but their is a means to an end.

I have had a heck of a first month in "full time" real estate so here goes mine::Currently, I do real estate & property management during the day from 9-4ish (Mon-Thur) and as needed Fri-Sun (its been needed a lot!

I'm Intreagued with this idea because living expenses are exuberant and if I were able to close on a deal and maintain occupancy with two other tenants my living expenses would be eliminate and I would be living for free rather than paying thousands of dollars renting someone else's home.

We try to let people that are having financial hardship out of their leases (as long as they have been good tenants and are maintaining my property).