Buy and Hold investor from Pullman, Washingont

[Alex Gordon]

Hello, 

I've been a lurker and following the website for a few years now.  I started listening the podcast and getting interested when I purchased my personal residence a few years ago.  I now have the capital and would like to purchase a buy and hold property.  I live in a College town that has a hot real estate market.  One challenge is the current housing market has been strong and a lot of apartment development leading to a ceiling on rents.  

 I currently have a real estate agent and have looked at two potential deals.  At this point I am interested in both but believe they don't fit my desired property for my first deal (One needs a lot of work and the other is not an ideal location among other issues.)  My goal is to improve my ability to evaluate purchase prices as well as rental prices and develop a process for evaluating deals.  In this market a 1% property is fairly rare and is my current goal.   I'm open to either turnkey or rehab properties 

Currently reading The Millionaire Real Estate Investor and trying to work on evaluation. Any other college rental investors out there