The taxes seem high at $1,200 for a 30k house, so that will affect your annual numbers.You should be able to make a few grand a year by renting, or you could offer an option to buy at 40k after a year or two and roll the total profits into another deal.

what a grande way to close the year!

We also thought of Grand Rapids Michigan based on the forums and other top 10 lists of hot real estate markets.Do you guys have any advice for a newbie, first time investor looking to invest out of state? 

So she actually considered it but was saying the house needed a lot of work possibly up to 10 grand.. the house is worth about 60 thousand but im very young (18) and super eager to get into my first property, am i setting myself up for failure or possibly success?

. $35 grand.

Darren, you have some hogwash in that post, costing borrowers 25% more and a grand more due to the DF Act.

My plan right now is to buy 1 property per year over the next ten years that cash flow 10 grand per year.

Hi,Not sure if this makes sense, here is my grand plan1) Buy few Duplexes/Fourplexes that give cash flow (around 5, and as many as possible)2) 20 years later with substantial appreciation, use 1031 to buy a million dollar home. 3) rent for reasonable period, say 2 years4) MOVEIN to the home, to make it primary residence. 5) After 2 years SELL. no tax for first 500K.

No one will hand us a deal on the silver platter unless they're our parents or grand parents.  

be very cautious as you vette them.. but you should be able to get into leveraged deals were your consistently making 50 to 100% or more on your cash.. do that for enough years then start to peel into cash flow units once you have a few hundred grand saved up and you just use a little of that... and or invest with a group and buy repositioning properties that have major upside.. don't get bogged down buying small rentals that have no upside its just way to slow of a way for someone like you to get to where you want to be if your smart enough at 25 to be knocking down 135k a year ) that puts you in the top 3% of all wage earners already... keep focused on that.. remember RE is just not that easy to duplicate those numbers without serious value add..those at buy smaller rentals are looking for a 10 to 30 year plan... and they plan on keeping their day job...