If you want to be into rentals know how to raise money legally and form Partnerships so you can invest in apartment complexes.Once you start buying a minimum of a 32 unit apartment complexes you'll be able to hire a Property Management Company to take care of the daily operations including the maintenance and tenant screening and still make a positive cash flow. 

If you are not going to live there and just tell the bank that you are I have seen this done many many times then you need to be careful because thats essentially fraud and could come back to bite you.

I know most think the opposite but not me I can roll into any market and find deals.. but finding Quality money partners is where its at if your going to scale.. or want to scale.Then if you don't want to be a syndicator ( like me I don't care to be because of all the work involved and massive liability) its one investor one LLC.. and we are off and running.. 

Do you know of any companies that take care of all the paper work and building plans? 

Even on my off days I'm running around town taking care of errands all day and I am hardly at my house the entire day because of that.

We are investors ourselves, my husband takes care of the purchase side and I take care of the management (or assist in self-management for those who choose to manage  themselves) side for our investors.   

Current owner has apparently added more clean-outs for the sewer (~3 years ago) and states that when he bought the property in 2014 he put about $5k into water lines to take care of several leaks.

Have to thread carefully.

I had a tenant with me for over a dozen years, rented an SFR to him below market at $1,300, he took care of the place, did all the repairs, so I haven't raised it the first 8 years.

Take Care,Debra Thomson, RN Realtor Phoenix AZ