We were literally thrown into the deep end with this.At that point, I decided I start learning and learning.

Been on the forum for a couple months, literally listened to every podcast from the last year or so and my way to and from work.

Yeah, this is definitely not my main focus but I definitely see the opportunity literally in front of me everyday. 

I spent quite literally every cent I had, to pay for a house in cash. 

We literally went from making $14,000 our first year back to now in the low 110s by the end of this year.Between 14k in 2016 and 70k in 2017 and trending upwards for 2018, we were prequalified for 150k loan, assuming 10k in taxes and 5% down.

What they quickly discover is that virtually a single capital expenditure, a few inflated vendor invoices or a slow turn, could literally obliterate that month, quarter or year of being in the black.Likewise, PM's have to be concerned with much more than "Tenants, Toilets and Trash".

We are interested in Flushing area for now, but we can go other areas for investment potentials.

But with some advance planning this process of conversion from investment to primary residence can be a literal gold mine for folks as they go through their careers. 

Screening is very fast and complete - I can elect to accept CC and set the convenience fee (I do charge a tad above costs), and I find its pretty easy to reconcile a tenants payment via "serial number" or transaction ID reported to the bank with both Rentec accounting AND quickbooks - albeit Quickbooks is still manual for me (you can export from Rentec to Quickbooks via CSV... havent got that far along yet.We literally just completed several rehabs (meaning LOTS of expense), so seeing rents come in quickly and accurately is a relief for a change!

Whatever you offer is cash in his pocket vs losing it to an inevitable tax lien sale = no cash & eventually no where to live.Most of these 'people' are oblivious to any knowledge of financial security so I'd find out what he would take to just walk away flush with cash.