Preparing to enter the Game- Need insight

[Jarrid C.]

Hello all! I am currently in the starting process of trying to get into the game. I am a newly wed and I have just transition into my profession as a school teacher. I am currently renting, not in position to buy the home we would want.

However, I am considering purchasing a home in the near future as an investment. Because of my student loan dept and some issues I've had with private loan lenders, I will have to make a cash purchase. Which is fine, but limits the amount of house I can buy. With that said I would be looking to buy in some of the rougher neighborhoods, (gotta start somewhere).

So my question is; what should I do and would you buy properties such as these:

http://www.zillow.com/homedetails/9086F-N-95th-St-F-Milwaukee-WI-53224/40387080_zpid/

http://www.zillow.com/homedetails/2481-W-Locust-St-2483-Milwaukee-WI-53206/2128953711_zpid/

http://www.trulia.com/property/3088337618-1914-W-Vienna-Ave-1916-Milwaukee-WI-53206

http://www.trulia.com/property/3073588055-2468-W-Vine-St-Milwaukee-WI-53205

As far as asking what I should do, what are the first few things you look at when you say is it worth it buying? I know you always look at the cost of repairs and how much work it may need. I am more so asking, how do I know how much it should rent for? Is it worth the asking price? How much do you budget to get the property to be move in ready, (these types of properties cant be the nicest house on the block).

Those are just a hand full of questions. Pleas help and guide me. My goal is to do something in 1 year from today, I'm sure between working and income returns I can buy something straight out for 9k - 15k. I have also been told that lenders wont do a home loan for under 50k (IDK, how true that is, but a Realtor has said that to me.)

[Karen Margrave]

If it's at all possible, I would recommend that you use your money to get your credit issues fixed. In the long run, that will be the best thing for you, and it will open up more opportunities for investment, plus save you on the cost of loans, etc.