Future landlord can learn by research

      DEAR BOB: I have enjoyed your column for a long time. Now I have a question about investing in apartment buildings. I am strongly considering investing about half of my net worth in multifamily apartments as a source of income, but I have concerns about the pitfalls my naivete might expose. I am in the process of formulating my research and planning. Please tell me how I can get information about property management, dealing with apartment building brokers and the ratios of operating costs to consider. -- Damian H.
      DEAR DAMIAN: As a former apartment building investor who switched to single-family rental houses over 20 years ago, I wish you well. Although you didn't give the amount you plan to invest, please be extremely careful. It's just as easy to lose as to profit from apartment building investments.
      Before you invest, I suggest you take a job as resident manager of an apartment building. Usually, no experience is required. You'll quickly learn about collecting rents, dealing with troublesome tenants, evictions, repairs, operating costs, and all the joys of apartment owning.