I think when you make things more difficult that's when more obstacles occur, but on the other side of that I get it.

Trying to purchase one of them at a good price, is going to be very difficult.

If you have $200k to spend up front it is not difficult to bank $8-10k/mo after expenses.

Rural area can make it a little more difficult.

Hello Nikki,There are many variables with purchasing a condo that make it difficult and as you said "chew into profits."

For years we never included w/d (tenants are hard on that kind of stuff) but the last few years we started noticing more people asking if it was included, so a few years ago we had a property that had a difficult laundry room so we included it there and it went over great - so that's another area we've added.From what I have seen, more tenants are looking for "all accessories included" than "a la carte menu" leases.

However, the house is cashflowing, and the cashflow would be enough to pay for typical maintenance, plus a pricey earthquake policy (for now, let's put aside the fact that it's very difficult or impossible to buy a house in SLC that cashflows right out of the gate). 

Also be aware that cash out refinance may have minimum LTV requirements that make it difficult to pull money out.

Very low inventory right now and very difficult to acquire good properties to rehab. 

I'm not saying these aren't workable strategies and I know of people who have made a killing doing subleasing especially in places like New York city, but even among those many of them are doing it without disclosure and exposing themselves to a lot of legal liability in the process, and the work required to set these systems up is as difficult if not more difficult than building a fully above board business.