re: TOS: Being a landlord

We have a couple of condos we rent and it's turned out good. But our goal was to find something different to move some cash into. We're not trying to earn a living off of them but there's a pretty decent cash flow coming out of them now. A couple of things:

Get a real attorney to draft your documents. Also, we set up an LLC to run everything through. There's a difference between how the law really works and all the bullshite out on the Internet with people's opinions or what they heard from somebody else.

Don't stretch too far. If you don't have the bank to carry all expenses for a few months this is too big of a step out of the gate...but I'm conservative by nature.

Also, go ahead and get a good handyman ready unless you want to spend a bunch of time working on shite yourself.

Don't bank on capital appreciation...you make your money on the front end purchase price and your monthly margin...if values go up markedly then that's a bonus...but a lot can go wrong in 10-30 yrs.

That's all for now.