Obviously, their mortgage payments have been quite low, but our PITI payments will be roughly $2100/mo. 

It is more common to compare total sf.

Obviously $165/nite for 19 days/mo doesn't even touch your monthly loan payment, let alone everything else.Rentals in CA generally do not cashflow, particularly on the coast in SoCal.

Hi Sean, I've used a few sources to find deals, closing on 5 deals in N.C. totaling close to $9M.

An odd question, but what would a responsible RE investors consider to be a good % of the value (market price, not equity) of your primary residence compared to their total net worth?  

The only reason my realtor wasn't involved, the potential renters drove by the address and called his number from the for sale sign.The obvious first thing to do is get his lock box off (I have seen a flip where they broke the lock box for a rental scam).

Yes some of it is their properties have gone up in price to equity, some of it is they have paid some things down, and some of it looks like retirement planning as older more experienced investors move towards retirement and seem to value cash flow over numbers of doors.We personally like moderate leverage, but we are starting to think in terms of slightly fewer doors that are paid off in 15 years vs having as many totally leveraged properties as possible.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Anyone see any flaws to that logic (other than the obvious potentially dead furnace)?

I had a plan that if I leased it twice (4-6 years total) and it still didn’t go all the way to closing, then I would try and flip it for a quick payday.