Each unit can rent for about $600/mo.The good thing about the property is it had a bonus 1 bedroom cottage in the rear of the house.

@Marc Dufour Anytime a neighbor wants to split the cost of a fence 50/50 that is a bonus.  

Offering a boat hoist is also a huge bonus for renters and a good way to differentiate yourself.  

This is a great place to learn more about REI especially with the added bonus of having some great people that you have the potential to connect with.

While it is a great bonus if it cash flows with your personal unit at 0.

The other bonus is rehabbing a wreck of a condo is relatively inexpensive and quick since you're generally doing walls-in only. 

I moved my family in with my Grandmother until I found a job that paid a decent wage ($50k a year plus bonuses) but kept me working over 12 hours a day (plus  a long commute) and spending very little time with my daughter. 

Ours areas aren't cheap but the long term cash flow along with homes that who's appreciation exceeds inflation has been a great bonus. 

With the big bonus that living here has enabled me to save money and buy my first property in Illinois last June.  

Also, Brandon Turner was there, which was a very cool bonus!