Today after making improvements to the properties it generates over $2,300 per month in cash flow.

In my area the average rental has improved noticeably in the last 5 years.

, but I know people have built wealth in real estate without spending a fortune on coaching programs, and I’m determined to figure it out.I have a strong hands-on background in home improvement—painting, flooring, drywall, trim, tile, light electrical, and plumbing—so I know enough to be dangerous about renovations.

We negotiated a deal that allowed the church a low enough down payment to keep enough funds in reserve to make needed improvements/repairs.  

Look for steady job growth, population increases, and infrastructure improvements.

Over the years a completely remolded the house and mobile home and made improvements to the lots and increased the rents to $2,350 per month.

One multi building we owned for 37 years, improving the property over the years and ended up selling it for 6X what we paid for it.

The best first investment is something nice, clean, and livable but still has room for improvement.

@Yael Fuerst, if you choose not to do a 1031 exchange, you would also have to recapture all of the property's depreciation as well as capital gains tax when you sell. 10 years of depreciation on a $100K house ($80K of structure + $20K of improvements) You'll have an additional $9-$10K of tax on the depreciation.

Over-improving kills your ROI just as much as under-improving.Next, get detailed with your numbers.