Where cozy means tiny and charming means needs work.
A property you buy to rent out to strangers who will call you at 3 AM about a leaky faucet and somehow make it your emergency. It's passive income the same way running a marathon is a casual jog.
Institute of Real Estate Management—professional organization for property managers that awards the CPM (Certified Property Manager) designation. The Ivy League of people who deal with broken toilets and angry tenants.
A property valuation method based on the income stream it generates, using capitalization rates to convert annual income into present value. It's how commercial properties are valued, where buildings are essentially money-printing machines worth whatever those dollars command.
A contract clause allowing buyers to back out or renegotiate if the home inspection reveals problems, serving as an escape hatch for when dream homes turn into money pits. It's the buyer's insurance policy against buying someone else's disaster.