We're Atlanta-based owners of a profitable hostel-strong cash flow, incredible location, room to grow, etc -and while we'd love to keep her, family commitments call us abroad.

Contracts exist to protect all parties, and if he genuinely intends to honor his verbal commitments, there should be no issue putting them in writing.

It’s definitely a long game, but I’m committed to the vision.

Congrats on becoming a Dad...my general thought is to not commit to anything until you are home and settled.

I have had it listed since August 30th and have had several people interested, and one perspective tenant actually put in an application but ultimately decided not to commit to signing the lease.

most of that 6 months was UW, working w/ the lender, back and forth w/ boots on the ground team before we got it under contract since it was out of state. on large syndicated deals you don't typically get full roof access until that stage. we toured twice early on, roofs looked fine from the ground/aerial view (flat tpo). reports and investor commitments happen during that same period. 

. :)  But generally speaking I think we can all agree that investors first and foremost should get a title commitment read and understand then buy either owners policy or a lenders policy.

The right tenant segment keeps income steady, and with an experienced local team, my time commitment stays low.Advantages (when I invest in the right city)Inflation-adjusted rent growth can exceed inflation, lifting my standard of living over timeI need a fraction of the capital required by pure accumulation strategiesIncome can last for life and continue for heirsPerformance is driven by supply and demand, not daily sentimentDisadvantagesReal estate is not liquidMarket and tenant selection are critical, though the process is straightforwardEntry costs are higher, often about $140,000 cash plus a mortgage in Las VegasBottom line: stocks are for building a pile, real estate is for building an income stream.

"Survivors frequently suffered the “double victimization” of housing discrimination when landlords evicted or refused to rent to them because of “zero tolerance” policies on disturbing the peace, calls to police or violence committed by a member of the household or guest (whether authorized or not)."

It has been a painful lesson learned and I don' t wish it upon any other bright eyed new investors