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| You have to ask yourself (and your spouse if you gave one) a few questions:
Do you have the time or capacity for another chore?
Can you be sympathetic but firm?
Can you note but ignore things you may not agree with?
If the answer is no to any of those questions then owning rentals is not for you. Sure you could hire a management firm to handle the bad guy side of things but you still have books to do and you’ll still see that the tenants kids left their toys strewn across the yard.
Is there an ability to subdivide? And if so, how much equity is built in with the purchase? Could you sell the houses and hold the note giving you the monthly cashflow you need while also maintaining the financials the bank needs for you to stay in compliance with their terms?
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Tell me about renting out a house.
