I have a bit of cash saved up (about 45K), and I work at a blue-collar job as an Amazon warehouse employee (around 41K/year working 60 hours a week).I listen to at least 7 hours of BP podcasts or business books per workday at my job and am at a point where I am pretty sure I know what I am doing in regards to analyzing deals and getting to know the area I would like to invest in.

You have obviously drank the blue cool aid.

@Joe VilleneuveThis sounds great but how do you choose someone trustworthy of a long term financial relationship out of the blue?

They do a great job of getting vacancies filled quickly, but every time a vacancy is filled, it seems that I get hit with some expensive repairs that seemingly come from out of the blue.

I dont really like to write or have the skill to be a formal writer.. but I am full of blue sky ideas LOL 

Recently, I saw a multi-family come on the market in the Spring area (where I will soon be moving), and wanted to give some of y'all an idea of what kind of stuff is still around, even if it only comes up once in a blue moon.The numbers:It's a fourplex, as previously mentioned, that is priced at 374,000.

I am not even going to go into mangement problems, tenant drama, domestic and violet crimes, vacancies and rent collection issues..I have seen the backend of the story as well, because I am getting calls from out of state investors, who have accumulated small portfolios of these low end properties and when they start they are loosing money after a few years they want to liquidate the portfolio which is not that easy. 

The name should be in blue in the comment box.

Hi BP Gurus / Seniors,I am new to the REI and placed an offer for my first multi-unit property.Here are the details.Area: Near by Shabbona Park, DunningNumber of Units: Legal 3Built: 1950Price: $455,000 ($450k (purchase) + $5k (Minor repairs: Nice to fix but not an immediate need))Loan Type: Conventional (20% down & 2.5% interest rate)Annual Gross Rent: $38,400 (Tenants pays Electricity + Gas)Annual Expenses (Property Tax + Insurance + City utility): $10,000Parking Space: 3 (Garage – 2 & Side Pad – 1)Other details: Exterior Brick, free laundry in basement, all units occupied and it is a turnkey property.Pros: Steps away to CTA Bus Stop; Good Elementary school (PK-8); Walkable to Shabbona Park Recreation, Restaurants and Grocery Stores; 10 mins drive to Schiller Woods; 15 mins drive to Airport & low crime to visit the property any time confidently.Cons: Below average High School & 20 mins CTA Bus to Blue Line.My Situation: I will be in Chicago area until next Summer and relocate to Texas.

Now, because you have that 1 k left in your pocket you can cover one rental properties note until you find another tenant no problem.However, let’s say BOTH tenants leave out of the blue.