Direct comparables are much better (there should be other condos for rent in that complex you can call on and you can go onto Craigslist and use their map feature to find comps)2) If the average rent is just $919, the rent to cost (given the list price) is only about 0.7% That is not very high and almost certainly won't cash flow.3) Do you have any idea what the real value of the property is?

In fact, many of them owned dozens or hundreds of units, and the deals I they were doing seemed solid (they weren't being encouraged to buy bad deals).3.  

Also add in features about the location such as quiet neighborhood, walking distance to shopping center, bus lines nearby etc.Just an FYI you shouldnt put no no sec 8.  

@Matt Willman,I forget which podcast it was, but on one of them Brandon or Josh recommends using the rent feature on Craigslist to shop rent prices in an area.

Since you have limited connections starting out, I would encourage it.

We try to select houses with features appealing to tenants (garage or off street parking, 1/2 bath on first floor, storage space).

Thanks to everyone for the encouraging words.

Hi Greg,As a hesitant newbie myself, I encourage you to blog on this "great experience".

A big feature to remain compliant is to establish a relationship with at least 3 hard money brokers who know how private lending works, before even moving past go.

Encouraging tenants to form relationships with neighbors or introducing them to the neighborhood is also a great way to encourage the neighborhood to look out for one another.Best of luck with your investing!