Hmm. Think i have a bit different perspective. Was self employed for maybe 7 years as a VW mechanic (small shop owner). During that time my gal and i bought sad little abused houses and apartments, plugged all our $$ and labor into them, folded rent money back in, bought more... Think it's been about 15 years since i had any wages - the maintenance and management of our 53 units is all gratis on my part. I know that 'cause the tax man says that the rental income is all "unearned income". 'Course that means my SSI amounts to doodly squawt. Most days i'm sitting in my slippers and doing bookwork and management chores and don't make it out of the house till afternoon to do maintenance.
No pension, no 401k, no employer covered healthplan. No pointy haired boss, no commute, no inter-office bickering. Have to take my own self out to lunch.
But i'm looking to divest of these properties - I'm tired of the tenants bickering with one another, destruction of units by people i give a break too, going to court and cooling my heels so the judge can give a non-paying tenant an extra month or so to find a new home. I'm tired of getting out of bed to drive 15 miles to let someone into their apartment because they lost their key. I'm tired of being available 24/7. One of the things that was really cool and really sucky was being on the beach in Sayulita - literally on the sand - and having a tenant call with drain problems and being able to reach the right plumber and get the problem resolved. Now i want to be on the beach and NOT have anyone reach me - or feel that i have to have a cell phone with the right kind of service so they can reach me.