My sister has a business for the summer rental cabins. It is really pain the neck because some renters don't pay in full or repeat late payments. She has to pay her mortgage on time. She has another job to cover the expense.
My sister's friend owns six houses for people to rent. He has plenty of problems from them. The contracts usually do not work because it cost money to hire a lawyer almost for nothing.
Yeah I heard from my friends complain about it too :Ohno:
Pros:
pretty good profit
Yes but
Summer/Winter house gets high profit than units home.!!
people are happy with the local place
Depend which best buy Summer or Winter home with Beach, Lake, Skiing and more
and
Best buy units home with near shopping, stop bus, business
not living with them in the same house because he don't want to hear some noises from the wall in other family unit.
not involve with their personal complains (not related rental issue)
If no problem with the renters, that would give you more peaceful mind.
It's ok for them to paint their rooms as long as they pay their own money.
I can't think more about pros. I'll add later if it popup my mind.
My Pro...
Summer or Winter homes make profits and I can choice to reserve vacation to spend my summer and winter home with no charge and anytime...
Units Home... Same Income monthly but could be no residents then no income! I do nothing and come resolving any problems.
Cons:
unexpected water bust pipes in the winter
Not worry my brother has lic plumber and heat!
rental late payments
some are not pay in full
Summer or Winter home no problem because if want the reserve vacation rental house and They generally paid full before get in a vacation house! But only hold the deposit money if they are damage or not.!!!
Units home.. If they cannot pay rent and I will be stuck with them.!!
insurances
Not worry I will make sure a contract agreement with a tenant or renter that My Insurances only cover home with fire and other.. But Not cover with a tenant or renter's thing lost.!Also But If landlord or owner does not live in units home then will make little costly Ins. so if the landlord live in units home and its will be low Ins.
more taxes
Well Not really much !
some cars leak their motor oil on the driveway
do not care and will repair it
nut kids damaged on the walls (I have no idea - probably they got into fight with friends - who knows)
Use deposit money
going to court with the some renters several times
Yeah My friend had problems with tenants
hired someone to paint or installing something without her permission because she needs to know the balance costs.
No thanks I will do care of it!
don't make a mistake on IRS tax form. He paid a big fine - around $6,000.
I know and Need learns information before purchasing a home.!
cost more money to follow the ADA laws such as a ramp for a wheelchair.
(We don't have that problem. I think that we have to pay an insurance agent for an approval - I don't remember.)
its mostly usually business 's required ADA laws
It is against the law for any landlord to kick them out the parents with their children in the rental house. The law allows them to stay for 8 months or longer a while they find a place, and they do not require to pay full monthly payments - it is complex issue. Again, you can kick them out if they do not have children. Please do not cheat this one - you can get in a serious trouble with the law.
Yes owner or landlord can do If tentant do not pay rent with Lease contact then landlord will take money out of their pocket to spend Lawyer and get 2 to 3 month to evict!!! but of course landlord lose rent money!!
but If expired lease contract then get quiclkly evicts! so police will be there!
Note: Some states have the power to take away your rental house if a renter has illegal drugs. But, I don't understand that we cannot invade their house to check around the rooms because it is against the law. You see that there is a conflict. So far nothing happen to her and her friends for a long time. Knock the wood
No They cannot take house from tenant's bust drugs.. My friend own units home with sevearly damage doors and wall from policemens and FBI burst into house! so My friend take money out of thier pocket and deposit!
If you re owner house and do illegal drug alike make Lab or Huge Plants and yes will take it but if owner bust with smoke pot One Oz Bag then Won't take house anyway...
but High Risky Owner who own a house inside or nearby School Zone then They re bust and quiclkly take house! 
My friend lady has own 11 unit homes.. But Now she have two unit homes because its horrible/hell experience for her! Many times take tenants to courts! So Geez not wants to happen to me! Also what about income and tax? 