I have a client that is frustrating the hell out of me. A couple of years ago the clients stopped receiving rent checks on their rental property so there was no return on investment (ROI). I strongly encouraged them to address the issue immediately.
I was recently informed that they did not address the situation and did not have a tenant for the whole of last year. When I was done yelling at them for wasting the potential income, I was informed that I sounded like their parent. They had the same comments.
This year is more of the same, so now they are looking at selling the property.
I am the first to admit that not everyone is suited to be a landlord. But there can be real cash flow generated from rental properties. But poor decisions can lead to significant real cash losses.
Some of those poor decisions beyond no tenants would be purchasing at too high a cost. Rents being too low, not doing adequate checks on would be tenants.
So plan carefully and request our help if needed.