re: Generating Multiple Revenue Streams

Just getting started in it. The toughest part is making sure you cashflow. Taxes, insurance, and vacancies can be a killer. Make sure to look up property taxes for that specific property and get the # right before you buy. Next, factor in insurance and leave a cushion for premium increases. Finally, factor in a couple months of vacancy per year (could be up or down depending on market). We grew up in the neighborhood we are buying in so we are very comfortable knowing whether a property is a good deal or not. I wouldn't buy in an area unless I was very, very confident the property will gain big value in the long haul. Our goal is to break even at the least and be able to see it for a good chunk more than what we got it at. If rent go up significantly over time in the area, we will cashflow earlier than expected.

Hassle depends on the quality of the property and the quality of your tenants, which is tough to quantify. Also, I am not a real expert so I would try to get advice from someone who isn't as green as me....