If you 1031 into a BRRRR property or properties then plan on leaving equity in the deal.

To mitigate risk, you always leave inherited tenants on month to month leases.

Now that our house is complete we don't want to leave it anytime soon...

I have no idea what the average unit size, or bed/bath numbers are like in your market, though.I may have given you too much information so below you will find a quick pro/con list.Pro: lived for freegained landlord experiencegained rehab/flip experince (from a hands on, and Project Management perspective)have a great rental when I move out ( I will cash flow over $150 a door after accounting for PITI, maintenance, vacancy, and Property management when I leave)It is less than 5 miles to workClose to economic anchors (community college, military base, and downtown OKC) Cons:  Not the best town in the OKC metro (the street is safe, and so is the town, just not my forever area).           

This needs to be considered because if the tenant leaves and the lease is up your pretty screwed.. and they may consider leaving if the building is getting old..

You have to do 3 to 5% annual rent increases or market rents will leave you behind.

Jack,   believe it or not.. our state and I think WA made it ILLEGAL to do foreclosure rescue sub too leave backs..

@Anita Muhammad generally they want you to have "Skin in the game". 

Karen, I won't be attending but I can recommend a tip that could save you thousands of dollars: Leave your credit cards at home.Most of the free / low cost seminars give you a few crumbs of information but are mainly sales presentations designed to "upsell" you on more expensive "boot camps" and/or "mentoring programs".They all follow the same classic sales formula, they'll tell you that it normally costs $X (you can even go on their website and see that price) but "today only" or "only for the first N people to sign up" they're putting on a special deal.They'll do the whole "this is how much it would cost individually but here's an incredible package deal" etc.

Discuss property transfer and DOS, a different kind of wax.While the guy in the video is enumerating some valid points, he also leaves stuff out.