Many mentors in this situation want the novice to put up most or all of the money in exchange for splitting profits evenly.The hours are reasonable if the properties and tenant class are nice, and he's training you and passing off his established system for doing things.

I've been talking to many people about this topic and it definitely seems that there are many pros and cons and it just depends on your individual situation.

There are many situations where you need a reserve fund:- Cannot find a good tenant, need to leave unit empty for a couple months.- Need to process an eviction, handle court costs and vacancy and repairs.- Big repair item comes up (furnace, roof, etc.)

It may be because I have only been investing 5 years or so, but I have been having a very difficult time with property managers fulfilling my expectations (perhaps theyre to high), but I know it should not take 2 months to fill a duplex in a highly rented market (just for example in my personal situation).

Just make sure you keep everything compartmentalized or you will start to run into situations where you will have a conflict of interest (i.e. if you have 10 buyers looking for $40k rent house to buy cash, that needs a lot of work, you will likely keep none of them happy because there are fewer and fewer deals with people competing for same houses).

Each housing authority is different, but in our locale the case managers will make sure the tenants are adhering to the rental agreement if they are apprised of the situation.

Your understanding of these situations is almost certainly wrong.

I've had tenants have issues and tried to deal with situations like this.

Situation is resolved going forward and you provided the tenant with some useful information which you might want to include in future "welcome" packets to prevent this going forward.Just make sure to frame this as you are not at fault or implying responsibility.

I've had some situations that are similar in nature and the Underwriter was always extremely helpful in making sure the policy didn't cancel due to repairs as long as the insured agreed to the repairs done within the extention time.