Now, I've come to the conclusion that I can do this...

My conclusion each time is that the returns are much better in other places.

Hey Daniel, your just plain ignorant bout' business law and contract law from your conclusion/statement about LLC'S .

I'm very glad you arrived at the same conclusion already.

Not everyone is wired the same; we spend a lot of time in my company learning and executing personality assessments and their conclusions. 

That is my conclusion on replacement type after researching all options for the last few years.

The hoa just redid the outsides of the units within 2 years, and the inside of this unit needs no work.Tenant currently in place, on a one year lease set to expire April 2015, paying $900 per month LL is currently paying for electric and Internet, approximately $65 and $33 per month respectively (per current owner)$367 for HOA (hoa includes exterior/grounds/pool/patios/cable/water/trash as well as flood and hurricane insurance I'm told by current owner that taxes are $606 annually, as investment property The owner says she is also paying $15 monthly for Renters insurance.So in short:45,000 asking price  Income -900 total monthly rental income Expenses -65 electric33 internet50.5 taxes367 hoa 15 renters insurance 530.5 total monthly expenses (not including mgt fee, vacancies, maintenance, etc) 10800 annual income6366 annual expense Conclusion/questions/my thoughts:1) As seen above, this deal fits neither the 50% rule, nor the 2% rule.

I have come to the conclusion that for "little" people like me (by little I mean I wasn't born with much of an advantage), real estate was one of the possible avenues to true wealth and legacy building.

@Darren Finney As a property manager working out of Muncie and Anderson, I agree with your conclusion.

I'm coming to the conclusion that its not a good investment.