Being that we are military transplants, we don't know the area all too well and want to make good investment decisions based on the more desirable neighborhoods.

That's because you have real live real estate investors here that KNOW the reality of the business.

Hi Jessica, I'm a South FL transplant to Middle TN. 

Hi Ibraheem,Welcome to Atlanta, like yourself I am also a Chicago Transplant.

@Calvin Matthes There are no special Rhode Island specific rules that I'm aware of - all of the rules you mentioned, and others, work just as well in RI as anywhere else.They're all rules of thumb that you can use to determine if it's worth spending a lot of time investigating a potential deal, or just pass on it and move on to something else.Actually as I think about it, maybe there is one Rhode Island specific rule: Generally, no one in RI (unless they're a recent transplant from another state) wants to drive more than 15 minutes in any one direction ;)

Always good to have more Texans....even the transplanted ones.

Most likely not only will you live rent free but you will make money too.Good luck young man.

My goal is at least to effectively live rent free, but I will favor properties that can offer the best net cash flow (including the amount of rent I'm saving by living in my own building).

(Agreement was i wouldnt pay for renovations I would live rent free until I made my money back and she would sell the house to me in 2 years which she no longer wants to do which is fine but...If she sells i can get my money back i put into it)What still needs to be done, Foundation isnt looking good, structurally walls are cracking as if the house is sinking hard to explain without pictures, roof, siding, gutters, front porch, hot water tanks are old, basement floods, backyard fence is about to fall over and if it does its going to hit a lot of cars next door and she is going to be in a really bad position, and the upstairs needs a total gut its in terrible shape.

My goal is to live rent free in a multi then grow from there.