Purchase price: $145,000 Cash invested: $60,000 Finding a move-in-ready home that offers modern upgrades and country charm can be challenging—but this fully renovated 4-5 bedroom, 2-bathroom ranch is the perfect solution.

Is $50k enough to get started?

Private Lender Partnership: Partner with a private lender or investor willing to take a second lien position to get you to 85-90% cash out.

When a tenant moves out, transfer the deposit back to Checking so it's ready to apply towards expenses or to refund to the Tenant.If you end up with excess funds in the Checking account, I recommend you transfer it to a third account that is specifically designated for future investments.

It will take two months to turn it around and get it rented.

That way you have a fallback plan if it gets overwhelming. 6.

Get out of your comfort zone.

It has been a great rental and would continue to be one but I think I am ready to sell it!

The cause of the 2008-2010 Great Recession was bad real estate loans - if you could fog  a mirror, you could get a mortgage!

Dennis' dad and I actually tripped over something similar back in Chandler.. we learned to tap into city planning websites and even call the permit offices directly to get a real sense of their backlogs.