Obviously circumstances vary (and I'm assuming you'd want to do RE full time) but I'd be thinking a long those lines.

I do rely on zestimate for rent since I've found it has been fairly accurate, but I still verify with the MLS.

That sounds like a great plan that you and your folks are teaming up to do RE investing!

I left that job 4 years ago to do re full time.I knew Thrope was a Mathematician and the father of blackjack card counting but didn't know he also worked on financial problems, not surprising I guess.

I have some family in West , MSWelcome to biggerpockets and do red dirt land proud

How long will the apartment sit vacant if you do re-lease to a new tenant?

At 2% of purchase price as rent, you would need $300,000.But being married and having six kids, $3,000 doesn't go very far, especially with two of the kids in college.If I owned NOTHING and wanted to do RE investing for a living, I would need a minimum of $1,000,000.

Karen Margrave Thanks for the mention and heads up.Carlos Duran - For just a pair or threesome of investors looking to do RE investments on one off deals, no need for securities attorney, however, structure of your operating agreement for your LLC DOES need an attorney to draft.You provided little info in your post so I am going to make some assumptions.

You're definately in the right city to do RE, requires being out and about.

I actually sell cars at auction, and looking to do RE deals as well, so we should definitely talk!