@Jonathan LaneYou can offer cash and the finance, however, you won’t have a financing contingency so be prepared to actually close cash if needed.

This will help increase your knowledge base about the subject quickly and you'll be more prepared to take on any challenges that might come up.

I can better prepare now!

Something without a HOA is best.4) find a local group and go to some of their meetings (if you are buying locally)5) contact a realtor who works with investors and look at a few places after you've run the numbers and be prepared to put in offers and follow through

Start slow, learn as you go, and be prepared for when things turn around and the market is more favorable for investors.

Go ahead and have your allergist prepare a letter that describes all the suffering you would incur living with a dog.

Paying rent will force you to maintain a personal budget, it will ensure your property produces the income necessary to operate the property, it creates a savings for you as a landlord so you can prepare for the next investment, and it shows how the property performs as an investment in case you have to sell.You need two accounts: checking and savings.

Section 8 is great but just be prepared to deal with the occasional routy tenant and extra wear n tear on your properties.

Seeing the place where you made so many memories with your family trashed, and then going through the emotional turmoil of repairing and remodeling it, knowing it will eventually just get trashed again...are you prepared for that?

It's important to take your time with tenant screening and be prepared to manage the property yourself.