The Teslas are fun and sensible and something I've been wanting to get for a long time because they're the cheaper option long-term unless you're your own mechanic and there's killer tax breaks all over for them. 

First deal must be a killer not just anything to buy to get experienceI'm not negative at all - just realistic.....I'm buying houses because some people made bad financial decisions.All I'm saying - make sure your numbers make sense!

It's really the low monthly rent amount that's the killer, since the other expenses quickly overtake that number.

Alexa is a killer.

If you had a killer rent situation like $700/mo it would make more sense to keep renting and invest elsewhere.

Wait til there’s a “special assessment” and your monthly goes to $700… still a killer deal?  

As with any law there's a lot of gray areas but personally, in my contracts I let the seller know we might assign it to someone else, it has never been a deal killer.

It can be a great buy for a rapidly appreciating area, because of the equity you may gain in short amount of time.As others have said though, HOA's and condo fees can be absolute KILLERS of cash flow and tenancy.

Check the bottom half of this page if you are into maps. http://gislounge.com/us-census-2000-population-trends-mapped/ Watch the center running WSW.To answer the post, I think it is a killer idea and would be excited to go if I could afford it.

@Jay Hinrichs Hi Jay,Couldn't agree with you more about some of the keys to success - at it's simplest you need tenant's that PAY (by that I mean high quality tenants) and tenants that STAY (people underestimate the importance of length of tenancy as turn-over is a killer of returns).