They are 3 bedrooms and 2 bathrooms with all the upgrades including: granite countertops in the kitchen and baths, 18x18 tile flooring, nine-foot ceilings, premium carpet, master suite, indoor laundry, automatic sprinklers and fully landscaped front yards.

Commission earned when my agents make Real Estate sales. 31-231.

You on the other hand can continue to spend your time limited to your local market and never able to expand to the point where you can make real money.Do you honestly believe that if you had hundreds of units you would still be able to self manage?

I've done two like that. both I gave land value minus demo cost. both of them ended up being money makers.

Thanks Jon.I was thinking of having my wife get realtor license (she is home-maker currently) and then as we file jointly was thinking of doing that way to be able to use depreciation deduction from rental SFRs against my full-time W2 wage income.

@Joe S.Nah you are not being paranoid at all. 2 large indoor dogs can do some damage.

Because basements have a way of turning into indoor swimming pools.

I suspect that many real estate investors think of themselves as deal makers or hustlers and not leaders.  

If the value is what you think, around $500K, this may well be a money maker.

Now I must say there's a lot of junk up there, but by using my formula and my tried and true contacts, I can tell pretty quick if it's a money maker or not.I'm currently closing on another one that I just picked up for 36K.