This is really something that I fell into, because the landlord at my apartment complex needed someone to do this job. Obviously the great thing is that you wake up and walk out your door and you are at work, this is the bad part too. If something goes bad in the middle of the night the tenant is going to want me to get up and fix it. I have been taking some online classes at this place called the National Apartment Association Education Institute, but I really do not think that I want to stay in the business of managing apartments per se. Instead I am thinking about the same thing with homes. I knew this guy who was friends with my older brother, and he made a lot of money doing the sort of real estate dealing you see on TV. In fact he and his father in law bought houses pretty much the same way that you or I would buy a piece of gum. They would rent them out if that made sense or sell them if that was the best thing.
He had a big advantage, because the father in law was already doing this stuff and he had money. In any business it never hurts you if you have money, especially when the money is what really makes things go. You need to have the stuff, you need to know how to use it and you have to make sure you do not waste the stuff. So when you buy a house you need to know exactly how to best fix it up without throwing so much money that it ruins the whole scheme. You have to be good enough at math and you have to be handy enough that you do not need to hire people for simple things.