Tom, My name is Frank and I live in St. Augustine ,Fl.
It's always good to ask questions.But never trust anyone and always check for yourself. I, and everybody else can be wrong ,and it's your money.It's up to you to protect it.
What is there to know about being a landlord?You provide the home and they pay the rent. I have been lucky for the most part.I have no mortgages ,so if the rents late I can be understanding.I only had a few bad renters.You can go to your court house and ask for information on how to evict a tenant in your state.Or just call and ask for their web site .All states have different laws.
What about finding the "right" tenants? Well you can go to the court house and ask ,if your to be tenants, had ever been evicted .Or sued in your county for trashing a rental property.That's public record.I have never done that yet ,but I do know you can.
Yes ,I did just start with one rental property.But that wasn't enough money coming in.So I started looking for more cheap properties ,one at a time. I now have 4 rentals and still want more.But my money is funny right now.The market is down and I'm in the red ,as I held from the top.Also,I was sued by the contractor who built my house. In short,the contractor f--ked my house up . My lawyer told me not to pay him the rest of the money until he corrected it.Well ,after 2 years both the contractor and I lost a lot of money.But both his lawyer and mine made a lot of money.
Well rental properties is an easy living.But the government wants their cut.They get their cut if the rent gets paid .Or if you have to have them evicted.