I have taken up an interest in real estate investing after reading Rich Dad Poor Dad by Robert Kiyosaki earlier this year (from what I read on the forums and heard on the BP podcasts so far, this is a popular starter drug among investors).

Instructions on how to use the search function to alleviate the same questions being asked daily :)

Unfortunately, in my market, you can't even get a rundown drug house for 100k.

Off the subject but you may want to go see the film The Infiltrator; shows how the drug business works.

I love the idea, however....Cheap weekly rentals in a drug ridden neighborhood will likely bring drugs and/or prostitution to your home.

I live in Massachusetts and if I search in areas like New Bedford and Fall River which are higher drug/crime areas I see properties that are cheap at 100k maybe 80k and need an additional 50k to fix up putting me at 130-150k total, which rent could typically be around $1100-1200 a month.

I'm trying to decide if I should stay the course and keep paying the 2nd down (6.125%) or go for one or more cash-flowing properties to alleviate some or all of the bleed.

Check homefacts.com for fire or drugs.

To help alleviate this concern, make sure you have a True preapproval-having submitted 2 years of tax returns, last two bank statements, all debts revealed, etc-and have your lender specify that these have been specifically reviewed.

She recently told me that her friend passed by the building one day and saw people out back hanging out, drinking and smoking recreational drugs.