Quote from @Marie Prophete: Hello, My name is MarieI am a new investor seeking to eventually move to Memphis. 

@Mary Jay Absolutely no checks!

Originally posted by @Mary Gansallo:Hi folks, I'm in the process of exploring the Kansas City market to invest in from a distance.

@Christopher Pray I tried to switch to one “property management software” to collect rent and my tenants who were paying electronically screamed bloody murder that they did not know this platform and did not trust this platform and did not want to switch from their trusted Apps that they used every day to the new platform.

Originally posted by Kristine Marie Poe:My youngest is transferring to UCLA in the fall.  

Quote from @Mary Jay: ' A couple thoughts.

Hi Mary, I was going through new questions/posts and I saw yours and I was kind of curious about the answer.

There is always at least a 3% fudge factor (+ or -) because surprises are hidden behind walls, houses are imperfect, and rehabbing crappy old houses comes with a level of unpredictability (this is after more than 2000 rehabs).If a GC is annoyed that I'm requiring specifics on the job I'm paying him to do then that's his problem and he's probably not the guy for my job, but there are no "gotchas" and i've never had it lead to any bad blood.  I

Rio Mar is a great area, and you stayed at a great resort, but there are a lot of hidden gems all over the Eastern part of the island. 

This was awhile ago, so these are rough numbers.Purchase price $299,000Down payment $29,000Mortgage payment $1400Taxes and insurance around $3503 other units rented out at $800 each = $2400So my client would live for free and take in $650 cash flow.Obviously you would have to factor in maintenance and turn over.In the end my client wanted something more high end and after I educated him on the market, he chose a gorgeous single family in Lake Mary.