Any Charleston investors?

[Medellin Heel]

Interested in investing in Charleston and subsequently relocating there myself. How much money would it take to generate 800-1,200 dollars a month in cash flow and what would be the fastest / best course to get to the above? Lets assume I can save 20-40K a year to use for investing. Any advice or insight will be much apreciated.

[Jon Holdman]

Rental real estate is a cash on cash investment game. If you get 10% cash on cash you're doing pretty good. With that return, $1000 a month, $12,000 a year in true cash flow (not rent-PITI) would require an investment of $100,000. If you manage them yourself, you can significantly increase your income, at the price of doing the PM job.