I'm finishing up The Millionaire Real Estate Investor - great book, so happy that so many of you have recommended it.I'm in the process of setting up an excel spreadsheet with which to track returns, both ROI and ROE along w debt paydown, cash flow, equity accumulation etc.Does anyone know if a version from his book already exists online that could be downloaded?

You are still going to have to replace:Oven, Fridge, Dishwasher, Microwave 3xDrywall 1xFloors 2xCountertops 1xWater heater(s) 2xPaint 4x Your repair budget should take care of most of the dents and nicks that will accumulate.

On the other hand, if you invest first in your own back yard, you learn the tools to add more value in future out of state investing and could probably accumulate capital through appreciation and forced equity in your own back yard, large enough to do bigger deals that make more sense managing from afar.

I envision accumulating rental properties on the side over the next 15-20yrs until retirement, but since active duty is often not in one place for more than 3yrs at a time, I am looking for someone to discuss the intimidations of "out of state" investing with. 

I have accumulated a few dozen addresses from driving around my local.

That Dividend Payment is then taxable to you on Schedule B of your return.You could also call it a Return of Capital, which would not be taxable, but this can then be problematic if you have accumulated losses or a current loss within the corporation. 

How do you prove Maybe any damage is the result of the last tenant, and it just happened to fail on the new tenant.How do you blame one tenant for the years of abuse accumulated by other tenants?

I have made a lot of money just by knowing what's going on around town and being able to point people in the right direction.I spend about another hour going through accumulated keyword alerts from BP.

It seems like more investors go for these types of properties because they are affordable and can accumulate more properties for their portfolio.

If you add equity accumulation to cashflow, you quickly get deep into double digits, as far as returns are concerned. - I strongly believe that turnkey investing makes sense, but only if you work with the best companies.