So, I'm scheduling a day trip up to Allentown to go look, narrow down and pick the properties I truly think are good fit for me.

A title company can do that for you.Here are a few things to make sure you have covered:In today's mortgage market, getting bank financing can be a real trip.

I have had some auditors let slide round trip deductions.If you simply drive from home to the rental and back that is not deductible.If you drive from home to the rental to Lowes, to the rental, to home.

Got the pre-approval for a quadplex and will be doing the walkthrough when I get back from a business trip this week.

In today's mortgage market, getting bank financing can be a real trip.

Jason,last week I gave an other member from NYC same advice: Check some bigger towns with max 1-2 hours trip from NYC in PA, NJ or NY.

Here is what I am considering for my 1st deal:$63k purchase price for a duplexRents are $550 each unit + utilitiesRE Taxes are $1,517 per yearHere is what I underwrote:20% down6% fully amortizing 30 year loan(P&I of $297)Repairs: $50 per month (reserve)Trash: $30 per monthInsurance $150 per monthTravel: $60 per month (2 trips)Contingency: $50 per monthTotal operating expenses: Including RE Taxes of $511Total Income less 10% vacancy: $11,880Total Expenses of: $6,137NOI of $5,743Debt Service of: $3,569Cash flow: $2,174 or $181 per monthIs there anything I am missing?

I'm just getting tripped up on the mechanics of how this works.Also, I agree this financing makes the deal less attractive which makes me think you could offer much lower than market rate.

also, even though it's just a lot, i'd still recommend insurance to protect you in case someone trips on your lot or something ridiculous happens :)

No, we invested in Australia(a PPOR and investment property) but it was very minimal and some time ago.We lived in the States before this trip over so felt comfortable in coming over to invest here.