So it's more of a trade-off that you'll probably make less but you get to be much more passive (literally you just wire money) vs getting your hands dirty in sourcing, funding, and maintaining 10 SFH.

I'm practicing my property analyzing skills but hopefully if I do find where everything works out then I'll make an offer.

I feel like the return will end up being low to nothing. (2) PM is something that is a skill and a system that needs to be perfected and I feel like you're underestimating (1) the difficulty and (2) the importance of a good property manager.

Alternately, if you are in a hot market, have no money, aren't willing to work your tail off, have no skills to add any real value, etc. then you should have no reasonable expectation of making any return at all, and if you do then it is probably coming via ill gotten ways.Wasn't there a Led Zeplin song with lyrics something like "...and he's buying an escalator to heaven"  Jay? 

Hey @Marcus Durant  Negotiation skills is the focus now.

Maybe you are highly skilled at fixing tricky title problems, so you can close on properties that nobody else can or will touch.

Here in Denver, many of those companies have left and the larger tax departments that would hire someone with my skill set are gone via merger and relocated to an area where labor is cheaper.  

@Troy Fisher The city is not forcing you to raise your standards they are forcing their beliefs, biases and prejudices on you and your business, restricting your free trade and imposing arbitrary limits.  

I want to find someone that knows the tricks of the trade, what is a good deal versus bad, strong knowledge of the NNJ area, etc etc. 

That makes for some very interesting scenarios in places like TX, OH, PN and ND where cold oil rich farmers can trade sell their interests and use the proceeds to buy a snow free condo on Miami Beach.Likewise, mobile homes when driving down the road with a license plate are personal property.