YOU need to obtain and pay for proper insurance; YOU need to pay and/or appeal your Real Estate taxes; YOU are ultimately responsible for law and code violations; YOU need to provide oversight to ensure the property does not deteriorate; If you want a "hand's off" Real Estate investment, then look at REIT's!

No doc loans were the only ones that had any appeal.

We could have pushed the issue, gotten an attorney and went to several townhip appeal meetings but it would have been a waste of our time.

And I am eager to give it shot for myself.Like many others, I believe we are hovering around the bottom of the real estate market and interest rates are very appealing.

It will also kill curb appeal.

If this doesn't appeal to you, also consider Raleigh, Oklahoma City, Denver, or Pittburgh, all of which also have strong markets.

The house still looks like a new build without much curb appeal.

It's a personal taste for investing and what appeals to you and your goals.I am bullish on multifamily,drug stores,medical right now.Commercial has trillions of maturing debt that is coming due between now and 2018.Banks are trying to hold on but the pain will have to come eventually.

I dont recommend doing a CMA that the computer spits out because of too few datapoints.The rest of your plan sounds good and I dont think there is a shortage of houses in your area to keep the plan going.BTW some other options are Trading your property for someone who is having trouble managine small apartments, Exchanging property, O.F. with large down, getting rental commitments but not signed and appeal to commercial buyer, or Lease Option.

Sometime around the beginning of 2011 I posted an appeal on BP for a notes buyer to look at this property and "take over the note" from the seller as it produces good positive cash flow.