We typically pay somewhere in the range of $3500 for a new, basic furnance, including install, if there are no other modifications to the system required.  

@Thomas FarrellRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

@Kaleb JohnsonRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I have a close friend who constantly drives up to the white mountains so can definitely understand the draw.

However, one tenant isn’t paying rent, and it looks like I might have to go through the eviction process.When evaluating a rental property, do you typically use the 1% rule?

Lock-out, should they continue to not come even, would be typically less than 14-days.Unless the tenant comes even with the rent (which would result in dismissal of the non-payment of the case), there is generally limited defense to this process.

Typically if you attend any investor meetings about 1/2 the crowd in many groups are agents looking for business.If you want to network, try service clubs, alumni groups, charities, religious groups, hobby groups or whatever interests you. 

Hey @Jaycee Greene, we typically get loans from smaller local banks.

There are alternative programs out there with reduced cost, but you are typically looking at 20% down. 

Also, I wanted to convey that the type of investor I describe should on;y accept a quality tenant well above what’s typically considered acceptable in the industry.