Getting into rental real estate investing has been on my mind for about a year or so and I’ve been consuming books, podcast, etc.

They're also known for being durable and having fewer issues, which is a big plus.

Tom Wheelwright’s WealthAbility is a full-on SCAM with shoddy ‘business practices’ that needs to be investigated for consumer fraud!

my main concerns are (1) this property has substantial deferred maintenance that you're not aware of, and (2) vacancy and turnover will be high, and together those factors are going to consume all of the cash flow for several years but, it sounds like if that's the case, you're going to back out. 

From the initial notice to the actual eviction, this can be complex and time-consuming.

I originally came from the consumer finance and "B, C, and D Lending" (now non-QM), then migrated to commercial banking before focusing on real estate investors (we don't like to say "hard money")...so I actually have a lot of experience in what you're trying to do.

One way or another, they are building their net worth.Building net worth is how you may possibly retire with fewer worries.

We obviously supplies consumables.

Figure in a 10% property manager expense on the 3 rentals, just in case you want to go that route.Even if it doesn't cash flow, and you pay full rent, you have a property you can easily check on, and for a first property, have fewer problems than an OOS property.

Getting a flood plain map modified can be both expensive and time consuming.