[jhynesrockmtn]

I have been in and out of single family rentals for years and currently own and manage a 6-unit apartment building in a very nice neighborhood in our town.

I have only owned stuff I would live in myself in good neighborhoods. Being a landlord in the bottom third of the rental pool is a nightmare.

Insurance is more, you need a business policy with good liability coverage.

Maintenance is all about keeping up on stuff and what condition it is in to begin with. My current building has required more investment to take care of some deferred maintenance but I would expect 10% or less should cover going forward. The really big stuff I hire out, but for example I replace the wall heater in one of my units last night. Doing some of the maintenance on a regular basis keeps me in touch with the tenants and gets my eyes on the property.

I would investigate current financing options out there now by getting to know a good banker at a community Bank in your town. Don't discount the power of current low interest rates. Owner-occupied versus investment property financing are two very different animals.

Shared utilities, billing for electrical, garbage, Pest Services Etc are all a function of the size of the building and how you set it up. For example, all of my units have separate meters but I carry the garbage service because it has to be commercial due to the size of the building.

Get educated on landlord tenant law in your area. I started doing this in Seattle back in the 80s and would not own a rental property there now. Not that I can afford to make it work in that market anyway :-)

Being a lanlord is not for the faint of heart but I have made a good return doing this on and off for the last 30-plus years.