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Yeah. That whole "landlord" thing???

Volpone

Zombie Hunter
...So I'm at the point in my life where I'm ready to buy a house. Well, if I get a job or other steady source of income I am, that is.

So my plan, of course, is practical and fairly risk free: Buy an old "starter house", fix it up, live in it for two years to avoid capital gains tax, and sell it for a profit. Buy a slightly larger house. Repeat every two years until I have a place free and clear (or I don't enjoy doing that any more).

Well, I'm out with a buddy and some of his friends and one of them owns a bunch of rental properties. "Eh, you're thinking too small. Just jump right in and buy some rental properties and live off the income. Then you don't even need a job." "Yeah. I dunno. I'd have to figure out how to screen tenants first." "Bah! It's no big deal--nothing to figure out!"

Of course on the other hand there is my current landlord/roommate, who has a lock on her bedroom door because she had a tenant/roommate who was stealing from her.

Or my landlord in Hawaii. He called me today because he found some junk I'd left behind that I didn't want. And to tell me his current tenant of...a month and a half...just got caught on video by the building manager, pissing in the elevator. Apparently, she was talking on her cell phone, leaned back in the corner, spread her legs, hiked her panties over, and just let go--all while talking on her cell phone.
 
Fixing up a house can be very expensive. But I think that is preferable to being a landlord and depending on your tenant's ability to maintain a steady income.
 
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