So while I think it's easy, apparently its not so easy for the 90% of people that try to do it.Additionally 87% of those who attempt to become agents, fail out of the business altogether.

there are successful investors in every state and failed investors in every state.to be blunt, though, whenever i see a California investor wanting "cash flow," i get nervous, because with a standard long term rental, there isn't any in the first few years. 

And like all of us you will learn and fail.  

So, if you fail to apply the correct assumptions to a property, your expectations won’t be met, and it may even be a financial disaster.We use the following to rank Property Classes, in order of importance: Property Tenant Pool: closely linked to location, but not always.

They had a massive $300m+ foreclosure action after failed capital calls and attempts at refinancing.

How many of them are failing because the GP is gambling with the LP's money?

Good gig if you can get it. )  I don’t know if you can be held financially responsible if your tenants “forget” to register, pay the taxes, or fail inspections  but with the 5 figure fines handed out in Vegas per unit, I’d make sure  of course I’d also make sure both you and they have STR landlord insurance policies instead of regular ones, hate to lose everything to a drinking minor.

If Tenant fails to obtain Landlord’s approval in advance of any change in occupancy, Tenant understands that this failure constitutes a Default as described in the Lease.

However, I've seen them fail as early as six years or continue working beyond 18 years.

If the other heir fails to step up to probate the property, you may be able to keep all the rent  If the other heir does petition to probate, you could deduct the reasonable and necessary costs of the eviction and of renting the property (but not the costs of improvements).