Going along the lines of what Raymond B. mentioned, I would love to be able to adopt both philosophies and just move into a multifamily residence, unfortunately the only ones up for sale are in the worst neighborhoods.

I fully agree with your philosophy Kyle... point well taken about upgrades before the end of their life line.

I think the key to success in using the MLS would be in working with a listing agent who understands your philosophy.

As you read around the forums if you like their niche or philosophy check out their signature many cover their business strategy and what they do in the blog/signature.

That is my philosophy.

This discuss their goals, philosophy's, deal etc.My blog/website, is about buy and holding rentals.

Many people discuss their philosophy's strategies etc on them.

My recommendation, if this arrangement is going to work, is that you sit down with the gentleman and have a very open, honest discussion about your goals, values & philosophies first. 

Hi Zaheer,The problem with good deals is that everyone is looking for them :)  There are many different ways of investing using real estate and many different philosophies on how to find those deals before they are gone.  

My website is new but I am covering this philosophy extensively.