Originally posted by Dawn Anastasi: At $140k with $10k down, the balance is $130k at 5% interest for just over 40 years.

@Dawn Anastasi and @Lucas Pfaff Hiring a property manager is an idea I have toyed with.

I agree with @Dawn Anastasi ... from my experience in Louisiana your best probability of receiving financing for a loan under $50k would be to go to a local community bank.

Appliances included:  refrigerator,  brand new:  microwave, dishwasher and GAS stove.

Tom's "boat" turned out to be a sixty five foot yacht that was named "Dawns Dingy" after his late wife Dawn who was his high school sweetheart and the only girl he had ever dated who had died five years earlier from breast cancer.

The officers walked through and said it seemed it was in good shape except the dish washer was missing?.? 

Welcome to Bigger Pockets @Dawn Fu 

But it dawned on me that I might take a few years to build up a profit-generating portfolio of properties to generate some income before doing so, to pay for more building materials and more of the cost of the land up front as well as providing a steady source of future revenue. 

Dawn,Thank you and yes I would live to attend. 

A great person to check out is Lisa Phillips she has great tips on finding good houses , you also have podcasts by members like Al Williamson and Dawn Anastasi.