Being proactive ensures you’re always a step ahead, minimizing risks and keeping your business running smoothly.Example: Imagine you implement an outdated tenant screening policy that inadvertently violates a new anti-discrimination law.

In CA, there used to be two different house numbers and it was straight forward to rent them as a separate unit.

I would recommend tuning into Straight Up Chicago Investor Podcast and going to local meetups. 

This requires consistent oversight and experience, which most investors simply don’t have.The Bottom LineIf you want to lose money and risk expensive legal fees, go ahead and self-manage.

I think I let my ego get the best of me and instead of doing a cash for keys I went straight to court.  

Hey Deirdre,To address your questions:Providing freedom by handling day-to-day operations.Offering peace of mind through proactive maintenance and tenant communication.Reducing risks by staying ahead of legal requirements, tenant screening, and dispute resolution.Enhancing the bottom line by identifying cost-saving opportunities while ensuring tenant satisfaction to reduce turnover.Is the experience still important when the property thrives financially?

In some places there are a few days grace period to allow for rent that is sent via mail (which I don't get because if it is due on the 1st, plan ahead). 

You can go straight down on one block and straight up around the corner.

Based on the numbers seems like it was a straight forward conventional loan...any challenges?

If it is someone you know you can give them a straight return as if its a loan - can provide a lower interest rate to provide upside - it really depends on the lender and what are they concerned with and what is their risk profile.