He doesn't know a lot of the laws and he's just burned out with landlording.

It allows those pros to pass on a deal that looks fantastic but burns investors in a couple of years.The point is, you can start with rules of thumb and you can only use them and you can have a nice real estate investing career / portfolio.

Unlike stocks, there are tons of things that can burn you on real estate, in my opinion a lot more than a stock.3) Liquidity - Real estate is illiquid with high transaction costs and as such would require a premium because you can't really turn around and sell without a loss because of the transaction costs and even if you want to sell it might take 2 months or longer to sell. 4) Time- real estate takes a lot more time to manage than investing in the stock market. 

I think these kinds of landlords are the most likely to "burn out" after a few poorly timed chance instances of tenant issues.  

You can test with burning string or something else to create actual smoke, but pushing the test button is what is specified.

But, with lots of time and money to burn to get this resolved.

Once burned, twice wary.I do both of the above prior to running any credit check.  

Our first home has now burned away.

Uber burns through drivers quickly due to low wages after expenses.

My vote is:If your goal is to learn the most about real estate, stick with rental properties.If your goal is to create capital, you can wholesale, flip, work on referral fees, or start a business.I heard one time that the risk with wholesaling is that you can make a ton of money and then not be educated on how to be smart with that money and burn it.