Best thing to do is start by reading The Ultimate Guide to Grading Cleveland Neighborhoods.

You will need to justify the sale price of those assets to the new owner at their then current value on your books.It is a big hassle to do this, but it can make you a lot of money if you do it right and are careful in your record keeping.

I care about income waaaay more than cashflow.

It sounds like you’ve been doing some serious groundwork with all the reading and research, which is such a strong start to your journey toward FI and retiring by 55.It’s awesome that you’re exploring real estate as an option, even if you’re not completely sold on being a landlord yet.

@Ed Lopez Many good points in this thread.A few things I was thinking about when reading your posts:1) At $500/month in rent with annual turns it is going to be nearly impossible for the cash-flow math to ever work.

I started listening to the podcast and reading real estate books about two months ago, and I’m excited to take my first step into real estate investing.I’m currently in Spokane, WA, and I’m pre-approved for a loan.

If you haven't already, read "The Book on Estimating Rehab Costs" by J.

As for the zip code you mentioned, some of the areas in there are nice due to steady rental demand, you just want to be very careful on the neighborhoods you select as some areas will be better than others.

Jason - First, we care about our users, which is why our policies exist. 

@Jerry Velez Your latest post reads like the script every other wholesaler uses.....