Cash :)  I was originally just trying to get some "pros and cons" guidance on different types of properties for a first-time investor.Yeah, your second post did tend to divert the responses from your actual question!

But what I thought they said is to figure out the cash flow and then divide it by two because history has tended to show that unexpected expenses (new water heater in yr 1, roof repair yr 2, etc) tend to eat up about half of your earned cash flow.  

I tend to agree with Michael haynes.

It's relatively laid back and I tend to have a lot of free time.

Keep in mind condos and townhomes tend not to appreciate as well as single detached homes.

Direct mail tends to work best when you send a campaign of 5-7 different pieces, 4 weeks apart from each other.

Those people if they can hold on through the down cycle until the next up cycle tend to be okay.

It all depends on what kind of asset class you're looking to hold- some people will say that higher class properties will bring about better tenants and less hassles (plus often times they tend to be newer constructions, so one can say there will be less maintenance issues).

There are a few title companies that Pittsburgh REIA members tend to flock to, because they are quick, efficient, and reasonable.  

Commercial loans tend to be 20-25 year term loans with a 5 year balloon (meaning your rate/payment structure must be redone every 5 years).Looking at the Fannie Mae eligibility matrix, you should be able to go as low as 15% for a single family investment property and as low as 25% for a multifamily.