It may be less if you have some cash invested, but you still want to consider getting a return on that cash.At $1200/month, with 50% for expenses, its break even (look in the landlording forum for EXTENSIVE discussion about expenses.)

I have had them run gas and water line extensions to connect, and it's usually easy to get a $500-$1000 up front "decorating" incentive from them to organize and spiff up the area you plan to install (by signing a 5 or 10 year contract).

Hire a management company to take care of any properties you buy - but do extensive interviews first.

1099 form....www.irs.gov& FYI in my humble opinion(imho) as a former Multiple Business Owner(simultaneously) U need 2:1-Hire a Book keeper/CPA w/extensive familiarity with our business (RE & MB'ing)2-Hire a "Managing" broker w/ a MINIMUM of 5-10 yrs exp.

Choose properties that need only minor repairs like paint, carpet cleaning, landscaping or a general cleanup.johnmichael: However, if a property can be bought less than 50% FMV, more extensive repair can be considered.johnmichael: Homes in the middle price range and below are in more demand and tend to sell faster.johnmichael: You need to only focus on areas that you can handle!

My second one looks like it'll close in the next week or so, but it's taken the 45 days plus a 30 day extension.

There are other sites where these contracts are extensively discussed and explained and I'm sure there are other comment here as well.

I perform extensive research in the entire US.

We provide the most extensive people locate, address verification and people finders data in the industry.

Try a site called rehabfunding.com, they have a very extensive list, they use to determine if they will lend you money.