Rent collected for 2 units $2300.

Additionally, Airbnb collects and disburses taxes to my state, city and town which eases my paperwork burden.

I suppose it will be useful when I collect rent in less-than-desirable areas.

There's nothing like total immersion to become Baptized as a landlord IF you're willing to tackle the tasks at hand.Here's what you'll need to do in short order:Crash course on landlord/tenant laws in your stateSet up (separate) systems for marketing for target tenants, screening/vetting prospects, easy rent collection, bookkeeping, contractor/handyman management, etc.The three best educational resources I can offer:Fixer Jay Decima, of 'Tenants & Toilets' fame (lower-end), Mike Cantu for mid-range tenant management, and David Tilney for the higher end of the market.

If you want to stay passive just buy a retail strip center etc. and collect the checks.

I have a mobile home I'm trying to be rid of that is worth 10-15k, it collects 450/month.     

Most new investors believe that the only value of a property manager is to collect the rent.

Thanks Dawn - that's a useful collection of posts.

How much decline in occupancy and collection or increased rate on the financing will put you in jeopardy?

If depreciation is deducted against collected rents before partnership distributions are made, then the distribution ratio would only apply to the net income or net loss incurred.If the net income is evenly split, the high bracket taxpayer will have less after tax income from the property than the lower income taxpayer.