How do I buy my first rental?

[Juan Garza]

Hello, I am 30 years old and would like to purchase my first rental. I purchased my house in 2009 and have about 81k in equity that I want to put to work ( I owe 194K and it's worth about 275k). I am able to save about 1k a month and have about 10k in savings. I know it's not much, but would really like to start owning properties. Thank you in advance and any advice would me much appreciated.

[Gerry Kielman]

If you can, find a duplex or a house which you can add a second suite. The idea is that if one tenant moves out at least you still have some income coming in to cover expenses and when both are rented your chance for positive cash flow is greater then a single family dwelling.