(So therefore we wouldn’t have to pass on the cost of the repair to him ie. the tenant).Now, several months later, I contacted the contractor to ask if he would be to provide a price estimate for a different job at our house.

Melanie:You say I sound like an operator, but you may have missed that I'm talking about my PASSIVE investments.  

I recently sold one I had on Seabrook Island because the club/regime/HOA were frequently changing the rules and making it harder to operate smoothly.

They only operate in markets where their data can hedge an almost guarantee if you follow their protocol.

Every PM operates differently, and at the end of the day, there is tons of information you can navigate on your own in the beginning stages online, but surely there will be PM's that would be more than happy to assist you on journey. 

Keep your W-2 job, save, and you’ll be able to afford your next down payment.

Inconsistent Cash FlowUnlike traditional jobs, real estate doesn’t provide steady paychecks.

A broker shall not be responsible for supervising, nor shall the licensee be responsible for operating, within the scope of the brokerage or within the requirements of this chapter, activities that would be considered property management, including leasing, maintenance, and repair, so long as the real estate being managed is "individually owned" or "entity-owned" as defined below:(1) "individually owned" real estate is real property in which the licensee holds an ownership interest; and(2) "entity-owned" real estate is real property owned by a corporation, limited liability company, partnership, or trust, within which entity the licensee holds an ownership interest as an owner, trustee, partner, or officer, or in another beneficiary capacity.

Analyze properties by looking at gross rental income, operating expenses, and the debt service coverage ratio (DSCR above 1.25 for rentals).

Then you have all the TV shows that glamorize flipping etc.. so its no wonder there is so much interest in real estate right now.Then you have the I quit my day job to be a full time investor..