While the property may not still return 20% cash on cash, it would not be losing money on a monthly cash flow basis (hopefully..)But I think that is lazy and irresponsible, especially if you own anything more than a property or two.So I generally try to run what if scenarios on each property and then subsequently run what ifs on my larger portfolio to make sure that the portfolio can weather any economic storm that may come through.I have only been in RE for a few years and didn't gain the experience from 2008 so my question to the group is what scenarios do you test or have you encountered? 

I will be running a background check for some applicants for the first time and I was wondering what resources you use to do that?

Depends on the type of GC you're looking for.The guys picking up material early in the morning at HD/Lowes/Menards are unlikely to run a very tight ship or handle large scale jobs.

If you can find a condo with an active HOA and one that has a healthy reserve and is run well, condos are amazing investments.  

Rehab costs will run $20-$25k.  

It is a loan and a loan wouldn't be considered income. 5) While I am not assuming you don't know this, one of the most common misconceptions I regularly run into, is the idea that Cash Flow= Income.

It can be a hassle physically running around picking stuff up but most of my trusted subs are armed with my Lowes account cards.

@Kyle M.What you are likely referring to is that with real estate purchased outside of a tax-sheltered vehicle, depreciation can taken be against taxation on income.

Starting to run into some trouble during my very first rental experience. 

We were thinking of selling our current property and maybe getting 40-50k from that and adding it to our saved funds as this property is probably not the best to have in the long run.