It is a pain to screen a tenant to determine that they do not meet the criteria for renting the unit.  

The VA funding fee is a pain for subsequent uses, but still much better than tying up 20-25% in a property, since we are in a high cost area of town.

One of the biggest pains with rentals for me is dealing with utilities and switching in and out of your name.  

Every landlord has different pain points -- I don't want to spend my days wondering where my money is or waiting to take tenants to court.

Plus don't discount the fact that you basically have all that money tied up in something that will be a huge pain to sell (you know this because it's currently not selling well).

The only way to take the pain out of evicting is to operate strictly as a business.

: Of course, an REI transaction depends a lot on the specific deal, and deals are fun (in addition to possibly painful, annoying, risky)!

Here are some things to consider:1) I will make 4% on the money loaned but will give up any market appreciation.2) If you lose your job and cannot pay back the loan, it is then considered a distribution and have to pay taxes on the money - painful.3) You can run into an issue if the lender views this as a "loan" versus pulling out investment money as you are not supposed to get a loan to use as a downpayment.4) Double check everything with your own 401K provider as each one is different in terms, interest rates, etc.Hope that helps.

Also they change the way they charge taxes which is a real pain.

I tend to avoid them because section 8 inspections can be a pain (eg: they will fail you if the tenant has torn a screen window, or if outlets are installed in the wrong orientation) and there is extra paperwork involved to get set up or raise rents.On the plus side, you get guaranteed partial rent from the government.