Then partner with her on the next one (you pay her 50% of the deal) as she watches and makes sure you don't lose your shirt. 2 deals in and you should be ready to do one on your own.

Depending on the place being a new landlord isn't a passive activity at all.True you might be getting 1% or less in a CD or bank account now and you don't get depreciation like with real estate but you can easily beat those numbers.If you have a few hundred k or more I would say triple net it a great route as you can hit a 6% to 10% cap and not do anything but collect a check.

So, if you want to avoid losing the property, you should prepare to eventually refinance it.From some of those discussions, plus ones I've had locally with people doing these transactions, the most common way the lender finds out is the insurance.

Nevermind that well cared for carpet could easily last 20 years.

I do have a question of sorts if a deal does not make sense to me its better off just walk away without losing money.

It just takes time to learn enough where you don't lose your shirt, IMO.Financing is a big hurrdle, complying with the wishes of the neighbors and community, some can't get past the city council or building regs folks as they are frankly, scared to have a new developer fail and leave a mess.

Even in untreated lumber, like joists, you may get twisting and lose structural integrity.Electrical connections don't like water, especially salt water, that includes low voltage circuits as well, HVAC controll, security wiring, door bell, cable and phone.....all wiring.

Stephen, It's early, I can tell you this is not a deal to lose sleep over!

The chances that one of them would lose a job and not be able to support the rent is high since there focus is on school.

I want to move, but a house of equal quality in a nice area would cost more than I could get for my house so I'd lose my Prop 60 advantage.