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I guess the moral of the story is to make offers on anything of interest, you never know when someone might actually want to sell.

That's why I don't get long distance rentals.....the travel expense. If I travel once a year to a house in TX I am out $500-1000 in airfare and hotel accomodations, that comes right off my bottom line and directly from the cashflow. If you're getting a couple hundred a month income that will drop to nearly nothing with travel expenses.

Yes, someone that knows the market around the area. If you are investing somewhere that is not local to you its definitely advisable to find someone that is on the ground in the intended investment market that can evaluate local conditions and prices for you. The realtor spends 40+ hrs a week looking at listing prices and recent home sales prices for that specific area, they know what a property is worth in that market. Also, finding one that works with investors is best as many only know retail prices and have no clue what cashflow is.

Call your local realtor and have them generate a comp for that property. Zillow can be pretty close or pretty far off, not always a good reference.

He copy/pastes this stuff all over other forums too, not sure what his objective is...

Good luck in your pursuits, as the other poster said you're in a damn good position at 31. I'm 26 now and hoping to be in the same spot by your age.

I think someone being in an office onsite is key for these types of places. Doesn't have to be 7 days a week or even 8 hrs a day but some sort of set schedule so new people can sign up for units. I guess the alternative is a phone number they can call and you can meet them down there with contracts and keys but I would imagine people would just go down the street to the next guy where they can get immediate service.

I'm paying $650 a month for a 2 bdr in CT. Not a spectacular neighborhood, loud bar just down the street, etc. Definitely trying to buy a 4-fam and get the hell out of dodge asap.

You try http://www.loopnet.com/ yet?