Originally Posted by lovinglife1
From my limited experience with three rental properties in Michigan, all purchased in 2005/6, the key to success for me was finding the most experience management person/company I could find. In this case, it is a family owned business with apartments. They are experts at screening, interviewing and managing tenants. And, they are experts at repairing anything that goes wrong. I can honestly say that I have not had one 'headache' from owning these properties. I pay the management company about 10% of gross rent and I sleep very well...
Good for you. Most new Real estate Investors, cannot purchase a Rental Property. Plan for vacancies, repairs. Pay Property taxes/insurance.
Pay 10% of of the gross rent and still have a Net Return for the year.