You are on the hook for any and all maintenance repairs if the property needs painted, new flooring, fixing holes in the wall, etc. 

@Terri Haley - do you only use simply safe for water heater leak protection, or also for security? 

If he simply called and asked the answer is always no.

Is there anyone who would simply say "never again" to property management, and always hire it out?

Some of the best deal makers I know simply use a "how can I help you" approach. 

We're at the point now where we've saved so much I feel like I could simply purchase a house cash if it's cheap enough.There are a few neighborhoods in the area where houses can go for $150k-$250k great for military tenants. 

@Kelsey Mortimore I’m doing a mixture of both, trying to keep some cash in reserve but also staying active and still doing some deals here and there to keep some money at work and especially keep a pulse on what’s happening in the market.For your first investment though, I believe the best time to start is “now”, at any point in the market cycle, simply because you have to live somewhere and there is a lot of virtue in just getting started and getting over the “first deal” hump, overcoming “analysis paralysis” etc.I’d recommend taking some time to “digest” your first deal though and acclimate to all the joys and responsibilities of house ownership, before rushing on to the next one.

I would not worry too much, simply put it on the market.

Are you simply trying to avoid the fees and regulations that go with an LLC? 

Simply put, college is terrific, but, in some cases not necessary.