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Congrats Mary. It's great that you've worked the system to the point that you can get things going for yourself. Networking is just so important, isn't it!

The work required depends on a lot of things. There are many competent management companies that do all the work for you. It is up to you to manage the manager.

Where do you live Rocky? There are local organizations that hold meetings, like investor clubs and landlord organizations. Maybe you can get involved in one? Otherwise, I think if you just ask your questions, we can gladly provide you with any info you'd like!

Pretty sure it depends on the property. If you had a 2br / 1ba or a 3br / 1ba, I think I'd put my efforts into building another bathroom. If I had a tiny kitchen, I'd put effort into building that up - kitchens are where people spand a ton of time, and they do choose houses based on the kitchen.

I have no official stats, but this seems logical, NO?

Depends on the manager, Rocky. Most management companies I know of are full service. They do everything. You pay a monthly fee of somewhere from 5%-15%, and they take care of you. They handle tenants, repairs, advertising, bills, etc. You basically can sit back and let someone run the property. You should keep an eye on them, but that comes in the form of monthly statements, and reports. Pretty easy, huh?

The hard part is finding a company that can do the job for you, and do it well.

Seems like it would be a good idea to get in early at one of these companies as an owner. The only problem I see is when markets slowdown, realtor offices probably don't do a ton of business. It would be good if they could figure out how to add other sources of revenue. That would make an extremly strong company! Diversification is the key for the future, I think!

Rocky - Great to hear that you're looking to get things going for yourself so early as well! Congrats for looking at improving your future at such a young age. Much success to you!

You're assuming that the 5% appreciation will continue. Considering the market has been white hot for years now, we're in for a slowdown. Can you afford flat to negative appreciation over the next few yrs? You should consider that when looking at this analysis.

I think you're asking for trouble by bringing appreciation into any equation having to do with cash flow.

Its really not that difficult to go out and look at other properties, is it?

If you're that "in love" with this property, go for it. What is it about this place??? :shake:

I'll follow with everyone else here. Why take losses when you can leave your money in a checking account and make 2%-3%? It makes no sense. Maybe you need to start looking for properties somewhere else.

I think the federal government needs to start coming down with stricter regulations for mortgage banks. I think they are playing too many games with tricky lending practices, all in hopes of getting business. Too many people out there are going to get really screwed as rates go up. :pissed:

Too many 100% loans, variable loans, and so on. Do the banks not fear massive foreclosures?

Do you think they need more regulation??

Hey there! Are you an agent as well? Where are you from?