Purchase price: $129,000 Cash invested: $5,000Condo we lived in and fixed up.

It may be a little scary but if you go higher on your purchase price, 400k and up. 

- Look into if property taxes are reassessed after purchase.

.- Bulk Purchases & Portfolio Acquisitions: Banks and hedge funds often look to unload non-performing assets in bulk.

My partner and I keep an excel spreadsheet of rent, our purchases, utilities, taxes, insurance, and money spent on contractors.

Quote from @Laurens Van swol: We are exploring the possibility of purchasing an investment property in Florida.

The idea is simple: purchase a property, live in one part, and rent out the rest to offset your mortgage or even generate profit.

When the home was purchased, it was conventional loan and the basement had tenants.

Too bad you can't buy something owner-occupied, put 5% down with the best interest rate, live in it for 12 months (and fix it up), rent it out and repeat the cycle.Here's some other info you might find useful:----------------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Process is simple. 1. purchase contract2. send contract to title company3. bring cash to closing and you're done