As for the areas to target, my goal in getting our feet wet as real estate investors--and since we plan to be living in Sac--is to find a property we can live in while renting out one or more units to help cover our housing expenses, which we can then hold and continue to rent out when we move.

Quote from @Isadore Nelson: I recently acquired a property with an existing tenant who has been living there for about four years.

The defendants researched and located properties that were in the pre-foreclosure short sale process more:https://www.justice.gov/usao-edtx/pr/self-proclaimed-short-s...18 U.S.C. § 1344 – Bank Fraud18 U.S.C.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

I have a one page lease addendum to cover this, that is executed with every tenant and every lease.

Always push for utility bill backs or tenant covered electricity in your leases.

Think of it like buying an existing performing business.

Insurance was way more expensive this time—which I've heard is a nation-wide phenomenon—and it's the first time since the NAR settlement that we've purchased, so we had to cover part of our agent's compensation.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

They're offering 5% for 20 years, no pre-payment penalty and the only cost is $2,100.