Ultimately, I would like to be able to reduce/eliminate the need for "full-time" employment for both my wife and myself.I am currently educating myself by reading as much as I can in preparation for "diving in."

If this is a popular area with limited supply, appreciating, and you find yourself first in line for a good opportunity then it might be worth jumping on it while you can. In

Know all you can in any profession you choose.

Behind the smoke he's done very little for downtown development (and development in general), though he's quick to claim credit whenever he can. In

I have seen some great remodel work there but I run as far as I can! In

I think that there is definitely enough fat in this deal to make it work even if mistakes are made.

I also would have the most incentive on performance with the current tenants if the tenants are worth keeping.You do not want the property manager motivated to turn units for fat checks and make almost nothing off keeping a good tenant.

@John Emmons , I am not much help from where I live but here are a few suggestions. 1) Start looking at as many houses as you can that are on the market in neighborhoods that are not gang infested. 2) Check out rental rates everywhere you can in the same areas.

If you can garnish wages, then it is worth it, If they are on a government program, you probably can't collect, but you may be able to effect their entitlement check by forgiving the debt and sending them a big fat 1099!

My second suggestions would be for you to spend the next 10 hours reading as much as you can in this website, both the forums and all the articles.