Real estate is often considered a smart long-term investment. There are many pros and cons to this type of investment. Before you make the leap into owning rental properties you should have a goal in mind.  Are you planning on financing your kids’ education, do you want to use the income to pay your own mortgage, or are you looking to have a passive income that carries you through your retirement years? Once you decide on your goal you will want to put together a list of pros and cons to determine how you can reach those goals and what expenses to anticipate.  Your list may vary but below is a general list to give you a better idea of what to expect. The pros of real estate as an investment: Rental income.  Nothing beats having a steady income that not only helps you pay the mortgage on the property but also gives you extra money to help you reach your financial goals. Income is flexible.  Rental income is not fixed. Just as rent increases over time at an ap...