and occasional vacancy its a 40 unit low rise. 

Follow state and lender rules on primary residence occupancy, as occasional stays may not be appreciated.Good luck!

As an agent, I grew very tired of trying to find a broker that didn't disallow something - or several somethings, such as:A lot of brokers in Ohio don't permit property management - not that I want to be in that field, but occasionally something would come up where it was warranted (and worthy of my time), but alas, I had to refer the business elsewhere.I won't even get into the wholesale/assignment of contract topic - I was with another broker for a long time (also an investor) who allowed it, because he understood it.

Occasionally, you may lose some money, but if you know your business, this will be infrequent.

We've never experienced any damage, maybe occasionally a broken key or something odd but this is rare.  

If you figure out how much you would need to have passively to just get by bare minimum, and still get the occasional coffee or take out then you can figure out what you would need to buy for property to achieve this.

Purchased a second home and took a chance trying to rent it occasionally as a VR.  

Banks do occasionally foreclose on Subject-To deals.

I occasionally get someone that says, "I know this one guy..." but they can't provide actual details and it's probably just a rumor.Almost all legal disputes are over security deposits and very small amounts.Large suits involve injuries, which are only a risk if the landlord is negligent (e.g. fails to repair a broken step and the tenant falls).Even if the landlord is guilty, the suit will most likely be settled out of court and covered by insurance.Even if it goes to court, insurance will cover the costs.The odds of a landlord losing a lawsuit for more money than the average insurance policy will pay are about the same as winning the lottery or being struck by lightning twice.

While we occasionally have to go down the eviction path with extremely delinquent or disruptive tenants immediately after Close, our process of re-lignment and issuing of new leases typically addresses the problematic group.