There are lots of ways to avoid that destruction of capital (that don't include giving it to children).And some people care about people other than just themselves.

Think very, very carefully about getting into business with friends. 

I also figured if I get the right tenant I can negotiate lower rent for certain things like lawn care and such but again these are just thoughts running through my head at the moment. 

So, I usually see new RE investors get their best starts by jumping in and buying something manageable.That said I think you are wise to be careful to invest in a seller's market.My advice: dig hard to find a deal then jump on it.

If you want to try working with a PM again, we do have an option for owners to take care of maintenance, but we still list/screen/lease the property, man the phones 24/7, collect the rent, handle the accounting, do routine inspections of the property, etc.

Thanks-Harsh I am 100% for Cleveland, but you need to make sure you pick your properties carefully.

I had the same thing happen to me a few years ago, let the tenant out of their lease because they said they were going to sue me for health related issue.

However, their health issues may squeeze them financially.  

I don't care anymore because I've paid all my commercial loans off and I'm not going back, but adjustable and callable every 5 years is standard, not to expire and need to start over. 

If that's what they claim to be conservative I would caution you to review all their other numbers carefully.