My first rental in Louisiana

[Shaun R.]

Well, I suppose I'm officially a real estate investor after years of reading and talking about it. I'm partnering with a friend from work on this one, and we closed on Wednesday. The house was an REO listed on the MLS. It's 1510 square feet, 3br/2ba on a nice corner lot in a subdivision. We are working on getting it ready to rent, and I'm guesstimating that we are going to put about $5,000 into it when all is said and done.

I'll post the final numbers when we are done and have a renter, and I'm sure I'll be here asking some questions along the way.