I'll be buying my first rental in the next 2-4 months, spending the time between now and then reading/researching as much as possible and getting some work out of the way.I figure my wife and I can buy 200-300k of rental property a year using the 20-25% down rule using excess income and not having to alter our life style and not over extending ourselves.  

Translation: my roommates have to sign a lease, and I have to have a new appraisal done on my house, with the hopes that my improvements and the general appreciation in all of East Nashville (plus my 20% equity from my downpayment) will get me to 30% equity by the time we close.

white rock = local colloquialism  (aka...chalk, as in "Chalk Hill" in Cedar Hill) translation...Slate  ;-0

We do not allow our tenants to alter our properties or do their own handyman work.

I always tell my contractors, for several reasons:-  They will expect that I have LESS to spend than a typical homeowner-  They will expect that I'll be able to give them lots of work-  They will expect that I'll have other investor friends I can refer them to-  They will expect the house to be vacant, which generally translates to lower prices

If you have $4,000-$5,000 to dedicate to wholesaling, that could translate into a really robust direct mail campaign.  

If you have the text, I can translate it for you. 

Roughly, what does that translate into $/linear ft? 

Seeing as this one came so cheaply, I've altered my plan. 

Translates to a little bit lower risk - but not zero-risk.