Don't spend all day on it of course.

My experience with property managers was one that would quickly put the small guy out of business.I spend a considerable amount of time and money staying educated because the tenant/ landlord laws are a land mine for unsuspecting and uninformed small landlords.

I recently got licensed as a real estate agent which I believe will be beneficial not only from the standpoint of the income it can provide but also networking, learning the market, and so on.So far I have been spending a lot of time mainly listening to the podcasts here but I look forward to getting into the forums and the other areas of Bigger Pockets to learn what I can and eventually being another resource for anyone that I can help out.Have a great day!

The end result is, I didn't lose money in a bad situation but a hard lesson: If it is too far for me to want to spend my energy and time on, it isn't for me.

For example, if a house is 100 years old, but with brand new kitchens and baths, then spending more money in the kitchens and baths isn't going to be the best use of your funds.

How much time do you have to spend educating yourself?

A true buyer will put skin in the game, spend money and get inspections done, and make a legitimate attempt to close the deal if the inspections clear.

Spend more of your time and money on sales training.

He may then spend the money to fix up the units and then refinance into his own name.Or, he could just buy the property for the amount owed the bank + $10k. 

I am near Newark but not sure if I want to spend $249 to register for the NoteWorthy Summit at this point.