Fledgling REI

[Robert R.]

Hey everyone,

My name is Bob. I currently live and work in Manhattan, specifically in the Washington Heights neighborhood. I've been in NYC for about 2 years now and really like the city. I guess you could say I've already made my first "deal." The leaseholder in my apartment had to move out due to other personal reasons. He offered to let me keep half of the rent collected for the spare bedroom, if I found a renter. This worked out to be a +$2000 deal and required no risk to me. Now, I am planning on assuming the lease come September and by renting the rooms out, as currently priced, works out to be 20% ROI.
I am 28 now, and within a few years, I will have about $150K capital to start with REI. My original plan was to obtain an MBA, increase my income, and purchase an owner/occupy brownstone in Brooklyn. However, reviewing the numbers, this doesn't make much sense as REI, unless I depend on appreciation, which is not sound REI.
Currently, I am still applying to business school, but am considering moving to an area that would provide better opportunities for REI. Ultimately, I want to buy, rehab, and rent property for cash flow. I am also open to rehabbing and reselling properties as well. I have experience in the trades and am comfortable doing the majority of rehabs/repairs on my first few properties.
Well that's a short intro, I'll be sure to post other specifics in separate topics.

And thank you, I've read through many threads and links. They have all been very informative and helpful.