Couldn't be happier our Q1 results.We successfully raised $500k private money for our flips.Expanded our networkPurchased 11 properties and sold 9Started to develope a strategy to break into multifamily.

.), making me think, No More HOAs, but after listening to her, I'm now happier to deal with the stupid stuff in my HOAs than be trying to rent out my homes with home day cares or mechanics or something right next door.

This can lead an inexperienced investor to trust the pro-forma numbers as it will have many things listed that they did not think of.The folks here at BP are priceless when it comes to evaluating those pro-forma numbers and pointing out where the estimates are low, or where things like 'owner-paid-utilities' have been left out.The more I read here, the happier I am with my analysis-paralysis and inaction thus far.

It seems like it could be a very good cash flow opportunity.To bullet point the specs of the property to make it easier to follow-$130k asking price-Seller financing offered-2008 square ft-3 1 bed/1bath units-Taxes $2377 per year (includes trash pick up)- Currently rents for total o$f 2125 - Tenant pays all utilities except water/sewer-oil heat-I need to find out what type of lease he has in place with current tenants and find out a bit about them and how long they have been there.I need to research the seller financing aspects to find out if there are closing costs involved (I am not sure exactly how that works), actual interest rate straight from the sellers mouth, not just the realtor.

My hunch is that you may likely be overestimating your expenses considerably for the first few years assuming 50%, but in the long run you'd be happier that you did once the rehabbed property begins to age and experience unexpected issues (i.e. bad tenants, repairs, etc).

Since much of real estate is word of mouth and drive around traffic, Facebook accomplished both those objectives. 

You don't start out saying I'm going to do xyz, or selling T-shirts at NASCAR events.What you do is dependent on your market, always has been, always will be.Then you need to know the market.To do that you need to understand the valuation process.To do that you need to understand why properties are valuable, understand location and use of properties.If you are going to buy or sell, you need to understand financing.One thing leads to another, you build on basic knowledge before you can ever select what is possible, probable and unlikely in your market.I suggest you find what you love and do very well at it, you'll be happier and the money will come.

One statement that really helped me was, "would you take food from your kid's mouth to feed this tenant/applicant?"

I am pretty sure I will wear the crushed red velvet tux and keep my mouth shut.

I have a vacation rental in Naples and couldn't be happier with it as it was not pure cash flow purchase but a way to offset cost of a vacation home.