I have a rental that I bought several years ago. The location is great, so I haven't had any real vacancy issues (I think the longest it's been empty is one week-BUT the vacating tenants had left and still paid through the end of the month). The rent does not quite cover the mortgage, but the loss helps offset my tax burden so I don't mind. I bought the home warranty upon purchase so if there ever are any issues (there haven't been too many), it's an $85 deductible to fix the problems. I manage the property myself. It doesn't take much time. I haven't even been in the house in the past two years. I think I've gotten very lucky. I vet my tenants very carefully, call references, check credit, etc. I probably just jinxed myself...
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