Michael, thanks for the Coffee Pot tip - I bought two of them!   

I just gather tips and concepts and learn on my own and apply it to my market.

My advice is educate yourself by learning online and connecting with multiple of investors willing to give you tips. $20,000 is way too expensive in my opinion. 

Hi Everyone,
I recently bought my first piece of property 2 years ago (3BD, 2B, 1300 SF) by putting down 10% ($60,000.00). I am looking to refi once the rates drop to bring my P&I down and hopefully eliminate the...

That is just the tip of the iceberg so to speak but usually tripping points for newer investors. 

Now that I have a property manager, I heard the %18 and believed that to be the total expense without realizing the additional (cleaning fee, lawn care, state taxes, pool care), etc...so the effective rate is much larger and my net take home much less than I anticipated.

Any tips for where to look or any one have example rehab templates?

If you have any tips for what you look for on the MLS, I’d love to hear about them.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I just closed on a 6 bedroom/ 5 bath home in Indio with a huge empty lot where I am going to build a resort style pool in the backyard.