Acquiring Rental Property

This seems appropriate for this thread.
https://www.google.com/amp/s/www.fo...ur-mortgage-early-or-invest-how-im-using.aspx

 

A good mgmt company is a must. I don't deal with any of the crap, just collect a check. I pay them 10% of my rental amount. I keep $300 set aside for miscellaneous repair that the mgmt company handles. Whatever they use for repairs is replenished from the rent before its paid to me. Any repair over $100 must be cleared by me. Easy as pie. All leasing agreements, credit checks, property check/inspections, etc... all handled by the mgmt company.

It's the only way I'd rent. If that wasnt doable...I'd just sell it.

 

I agree with this. Still own the first house I bought in 87. Has been rented out since 90. My wife ran a remodel project on it about 5 years ago.

In December the main bathroom shower which wasn’t retiled, in the shower enclosure had a bad spot in the wall. Agent hired guys, to retile the entire tub area and put in fixtures. I think it was about 2k. I asked if she wanted me to send a check and she said no, rent would cover most of it this month and I will get the rest out of rent next month.

I think we pay her 8% of the rent which she deducts before sending us a check. Well worth it I never get a call about the property until after the fact when she needs approval for fixing something.