An investor must always stay current with all the changes as well as continuing education.

If you've already been there, My only advice would be to make sure you find a contractor who'll be willing to give you "investor pricing" with the understanding that you need to make money in order to continue to send him more and more business.

Knowledge - Expertise - Continues to learn. 7.

Continuous rent for 8 years.

Since hazard insurances lapses every year a lender must continually get updated declaration pages to ensure coverage.

Fast forward a few years & after getting my own re license & taking a 24 hour pm class as continuing education for that re license, when looking over the applications the pms are using, I'm recognizing big holes in the screening process, when reading the pm agreements for landlord's, I'm seeing big holes as well - no real responsibility being accepted by the pms, but tons of fees for both me and the tenant & we decided to run our own rentals.

What does your research tell you about the stability of jobs/the economy in the area you're investigating?

As municipalities across the country continue to run out of money, you will see more of this.

For that matter, we need to, as professionals, continue to learn and educate outselves, so never stop learning, either here or in a book or in the trenches with a mentor.

I will say that everything went rather smoothly with the insurance, it was just a long process while they were investigating it.