So you want to be a landlord?

[PJ]

I think it can.  But there are a few key things to keep in mind.

• Have them nearby (where you can drive and pick up the rent while actually checking on your property)
  
• GO WITH YOUR GUT.  If you think they are scumbags, don't rent to them.  Don't be desperate to get that rent where you pick anyone.
  
• Save some of that money for repairs and such.
  

Thats a really good idea to physically pick up the rent each month.  Hate to not see the property for 6 months or something and get a big surprise one day.

You can even replace the AC filter each month too to make sure it gets done, and again allows you to make sure all is well. 

I will tell you that In Florida it is a PAIN to evict someone, not sure about up there.  That is something you may want to research too if you decide to do it.

Yeah thats a good idea to look into too.  Way back in the day I worked at an apartment complex and every 6 months we had to go into each apartment and change the smoke detector batteries.  That would probably be a good excuse to take a look around too.

Yup you just need to schedule the time with the renter and such but a great idea nonetheless.  Did you look around while you were there?  Not for valuables or anything, just to make sure the place wasn't wrecked?

Oh I looked around all right.  This was in like 2004-2005 and it was a section 8 housing complex.  24 or 25 buildings so it was pretty large.  I'd walk into these places and they would have big ass flat screen TVs and brand new video game systems... All sorts of stuff that I wish I could of afforded.  And of course they were living rent free.

The places were usually stuff full of crap but I don't remember seeing holes in the walls or damage to the apartment so on the bright side they didn't tear things up.

Part of my job every morning was to walk the property with a bucket and a grabber.  40s of OE, Kools and Neports for DAYS.  Buckets full.  They especially loved to smash the OE bottles on the sides of the buildings.  Most interesting find was the butcher knife in the playground sand box.