Our home has 250k in it (mortgaged 50k)I'm casting around via county records, driving around, center of influence, tax lien auction (happens in the spring in my county) etc. for a junker in a good neighborhood to either rehab (Brendan's BRRR example) OR just purchase with an FHA203k while we live in it, fix up, and then rent out.  

These costs have already resulted in PMs that serve smaller (less than 25 homes) HOAs to go out of business.The fees, business costs and government involvement would be more tolerable if the law accomplished its’ intended goal of consumer protection.However, the law is vague on the most simple demands and accountability for property managers: 1) there are no direct statements mandating PMs comply with all State laws and an HOA’s governing documents 2) no direct statements that require PMs to advise an HOA when they observe non-compliance with the law or to report to DORA when such advice has been ignored and violations continue3)no direct statements that hold PMs accountable when they carry out requested actions of a Board that are in non-compliance with the law or an HOAs governing documents 4) no mandates for PMs to provide home owners with a detailed explanation or legal justification of fees and assessments (such as the HOA Transfer Fee) they independently impose and retain and 5) no requirement to explain and justify in detail all PM fees in their contracts with the HOA.Repeated requests to DORA (Department of Regulatory Services) and legislators from Colorado’s largest HOA home owner’s group, Colorado HOA Forum, to include these simple specifics have been rejected making reform and enforcement for home owners very difficult.Legislators also refused to include in the Law assistance to smaller HOA PMs by reducing their licensing costs and requirements.Licensing also witnessed an unprecedented and disturbing legislative act.The Law contains language directly promoting a private entity’s (CAI) sales products and educational courses.It also allows the industry that is to be regulated (CAI) to develop and complete State educational, testing, and credentialing requirements none of which have been officially reviewed or approved by the State.Then there is the missing legislative mandate in licensing rules to address meaningful “full disclosure” of all fees and assessments on home owners by PMs.Specifically, the HOA Transfer Fee that cost HOA home owners millions each year will continue without any limits or justification.DORA decided a one-liner on home closing documents with no receipt and/or detail of charges is “full disclosure” of this fee.Legislation/licensing that is crafted by the interest group to be regulated should be disconcerting to home owners and businesses.The CAI has dominated the PM industry and HOA legislation in Colorado for decades.Their influence and leadership has led to the need for licensing and reform.July 1, 2015 was to be a good beginning on reforming the abuses in the PM industry but HOA home owners will sadly see little change.

The thing that was amazing about Glenn as he knew a little bit about everything and I mean everything.He knew about business, legal issues, tax issues, marketing, sales, promotion, networking, and most importantly he knew about people (psychology).The first thing he did was tell me that I have two ears and one mouth, and I should listen more than I talk.Second thing he did was have me read "How to Win Friends and Influence People" by Dale Carnegie.Then he taught me how to set appointments was home sellers, go out to their home, and write up a letter of intent to purchase or lease.He said to me, "your job is to bring me potential home sellers will consider a creative offer."

Working closely with investors and seeing their success influenced my aspirations to become a REI myself.  

You want to take advantage of their spheres of influence as well as.

And, I'm not happy about having only limited influence over the types of neighbors that other HOA members are willing to rent to, and a little concerned about refinancing after the 5 year owner-term expires, as I will be a 25% stake-holder in a condo association that has less than 15% owner occupancy.Thanks for your input ahead of time.  

But good job on the winning friends and influencing people front!

My mom just recently became a RE agent, so I guess that influences me too.My eventual goal in real estate is to be able to invest to the point that it is practically a second income if not better than my main pay as an officer.I found Bigger Pockets last night when I looked up, "How to start investing into real estate."

The answers to that question will also influence any decision to buy a rental property.

The more you can mine your sphere of influence for networking, the better.