Newbie from Springfield, IL

[Ben Rasche]

Hello,

Brand new investor from Springfield, IL.  I currently own a duplex and am looking to buy another property in the near future.  My goal is to be cash flowing 80k in 10 years through buy and hold investments.  I wouldn't mind trying a flip at some point along the way either.  I've been listening to the podcasts for about 3 months now and reading a lot of articles on BP trying to educate myself as much as possible.  Right now I'm trying to nail down what specifics I'm looking for in a deal (cash flow, how much I'm willing to put into a property to get it ready to rent, etc).  I  know that there are several properties available for 30-40k that appear to cash flow well on the surface, but I also don't want to buy myself a bunch of headaches.  I'd be curious to know what specific numbers people look for when deciding if a deal is a quality buy and hold investment (obviously this will vary by market).