I'll have to bug Minh and others to see what they say about it.. ;)Reading Emyth right now, and on @Arlen Chou's encouragement and mentorship, I am deciding how big I want to make this train right now...What do you guys getting into this biz think about the economic cyclicality of revenue and profit in the furnished rental biz?

My name is Shawn, I'm a writer in Los Angeles who's recently gotten the real estate investing bug after watching some associates of mine make a deal.

You can definitely make it work in Portland, if you're willing to dabble in the outer portions of the city.Are you still doing electrical work while you're in school?

I also recommend installing LED lighting(let me know if you need a few bulb recommendations,) even if you're not paying the electric bill, your residents will appreciate an apartment with a small bill(and of course it will help them pay the rent.)Michael

I feel as though Oklahoma City is an amazing marketplace.  80-120K gets you in very decent neighborhoods without having to worry about buying an older home that requires major updating...IE: plumbing, electrical etc.  

Gas and electric were handled by the tenants directly.

@Michael S. regarding our financial analysis - we considered everything including a complete gut rehab with new plumbing and electrical, but we did not consider that it might be a total loss, or that our gut job could also involve structural repair.  

My Introduction to REI failure (for those interested):I’ve been bitten by the real estate bug three months ago and ever since then I knew this was my path to financial freedom.

Building is 1968- will have to find out about lead paintPitched Asphalt Shingle Roof with aluminum gutters, Ill have to double check but think its 5 to 7 years old.Separate meter for electric but owner pays for heat (Oil-- not sure conversion gas is worth it but option is there)Good question about wiring, i would've never thought of that..I would assume I want it to breakers..

I'll keep this brief, I'm an electrical contractor and I was subbed out to do some work for a guy.