Here is what I have found to be very popular with BP investors:Coming to visit Indianapolis to see the properties / areas Newer big ticket items Inspections with repairs Area that they feel comfortable with - would I move my sister in this house?

Speeding ticket?

I have considered it for the reasons listed above...... its a near guaranteed payment and many don't want to do anything to lose their "meal ticket", so they tow the line...My only concern has been the hassle to get it set up....what's involved to get your unit section 8 approved, the paperwork etc.

You have the one house and 5k in reserve... you end a lease and have a 2 month vacant period you need to cover the mortgage for and the furnace or ac or some other big ticket item goes out. that will likely cost more than 5k.

I wish I knew all of this before buying those tickets.

While I can earn higher returns in worse neighborhoods, I like the solid 8% cap rate investment here given good neighborhood, good schools, house less than 20 years old and most big ticket items already taken care of.

Also, take a close look at the HVAC system, which is another big ticket item.

2) For those that have done something similar in the recent past, besides the Land purchase and construction costs, what were the other big ticket line items from the project (Legal, Engineering, Architecture, CPA, etc)? 

Tickets are going quick but you can find details in the meetup tab on this website or I'm happy to send you the link. 

Your concerns are valid, but easily mitigated with some reserves set aside, or even a home warranty to cover big ticket items (all buy-and-hold investors should have reserves set aside for their properties).