It seems like the numbers could work for positive cash flow and following the 70% rule, but I'm not sure if the town that the property to rent in is a strong candidate to own the property.

In the states I invest in, I submit the contract to the title company and they run title search immediately.

i have not. were able to get more when the new tenants moved in. i try to lock them in for longer time as well. most are 2-3 yrs.

We knew that all it needed was an operational overhaul to get it profitable so we dove in. I

The return on equity of your property should decide what you should do with it.How much end of year profit are you making divided by that 80-85 000$ + 100 000$ that you put in?I

Or just trial and error and jump head first in? I

I suggest you read this:http://www.biggerpockets.com/forums/93/topics/91635Want opinions on legalzoom, it's here as well.All real estate is local, meaning what is customary for the area you are in is what your business needs to be based on.

Do you mainly use them for one-off assignments(mailings) or long-term work like fielding phone calls from leads that come in?I

Renters are already in place, home is turnkey except for new carpet that the seller will put in. I

Hope some experienced rehabbers from the area/state can chip in. I