Good points DTA, and all are a risk for sure. These are the same risks whether renting a vacation property, investment property or being a slumlord with a gaggle of low rent apartments.
my apologies, I was speaking to the issue of part time rental, tax consequences etc. that part is not that difficult.
Everything else you just mentioned is par for the course with being a landlord.
I'm not advocating renting out your house. Although the $10M settlement for falling do n the stairs due to a burned out light bulb is admittedly not a likely occurrence. We've rented out several homes for various reasons and I can say it was the lesser of all evils at the time.....not something we wanted to do. For the very reasons you mentioned. Try kicking someone out from 1500miles away....probably no different than if you were right down the street but still it's not easy.
That said, it can be the best option. I would not want to do it for a living......
