I recommend educating yourself as best you can to avoid some common mistakes.

Rent on a 4 bedroom place may be $5000 monthly ($12,000 in Manhattan); rent it by the bedroom for $1500 per bedroom with access to all common areas.  

I still have clients buying in Vegas, but it's not as common due to cashflows being hard to come by with the traditional 25% down financing.  

@Jason Tucker  you need to add in your utilities, common area cleaning, and turnover costs to determine if it makes sense. 

But always complaints about guests (residents) leaving common space a mess, some resident gets mad they have to clean up...   

@Travis Boyd Outside of instances where FHA or other extremely advantageous financing options exist I am a proponent of the LLC for investment real estate although the liability piece is overstated.

A bad broker will try and soak you and will never get back to you and won't be worth a dirty diaper during the process.If you deal with a direct lender 1 on 1 then the processing and handling of the process will be in your lap.Some common questions to ask:1) Have them send you their bridge loan guidelines. 

The extremely hot summer has subdued the demand this month though.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.

The city screwed up and liened Direct Charges on the common area which has an assessed value placeholder of $1.