you need to be in charge but in a kind and empathetic manner that encourages folks to work together on solutions etc . 

The rest of the time, see below.As an investor (i.e someone with capital to invest) your job is to allocate your capital in the most efficient manner possible to attain risk adjusted returns according to your goals.The problem with cash flow is that it is so easily manipulated and so hard to use as a comparative metric that its completely useless for evaluating investments.

In WA RCW, a tenant can make repairs that any reasonably able person can do if the LL has not done so in a timely manner.

She also does not have an oversized ego and when this was explained to her in a calm , professional manner she admitted her error and appreciated the knowledge.

Establish your communication expectations with your team and work from there  - trust your gut, if a contractors seems sketch or the realtor isn't be responsive and getting information back to you in a timely manner, move on and move forward.

Sometimes more cash on hand is better because you don't have the resources to sustain too long of a rainy day and you aren't operationally set up to scale.  

Theft is a concern, and maintenance issues can arise when the unit isn’t occupied for weeks. from what I understand, they could develop into bigger issues if not maintained or fixed in a timely manner.

This most often happens because investors very much tend to optimistically exaggerate the security of their financial position in the B phase and act accordingly.Security typically takes decades of sustained and careful effort to accomplish in this business.

I feel that where I live (Canada) the real estate will not be able to sustain the crazy price points it is reaching.

It would not be sustainable if I did not live right down the road from my tenants, if I drove a Porsche Cayenne up to their place, if I lived in a swanky house instead of half of a beat-up hundred-year-old duplex, if it wasn't almost always me showing up on handyman maintenance calls, if someone else called them other than your truly, or if I had more than 20-25 tenants in this class.Does it hurt my pride to chase rent?