If I were to choose to contribute to a charity it would be the Humane Society.Nothing more rewarding in my opinion than assisting a helpless or abused animal.

My inlaws bought a home with a finished basement and within 2 months the paint bubbled and moldy.

Because I can spend 40k on a paint job (if I wanted to) and no lender would cover that expense under delayed financing exception loan on top of my purchase price.

If you buy a 50 k property, put 20% down, which is 10k, you must paint, do some Sheetrock, save on sweat equity, in the beginning!!  

I can't imagine having to plaster and paint around it all, even if it was in the middle of the room.

As @Lee Ripma mentioned "Set For Life" would be a great book to read.As far as choosing the right market... you can read several reports online (just search google for XYZ city real estate report).

How do you choose the interest rate?

New Britain, CT 3-Family Rehab UpdateBelow are pictures of the painting we did on the 3rd floor unit which is completely painted.

The tenant in fact is not your liability...why, because he is an adult and free to leave whenever he chooses.

I would upgrade a slummy looking kitchen or bath with builder grade materials or do tweaks to something old looking but in good condition (refinish a pink cast iron tub, use oil based paint to cover dated bath tile in good condition, paint good condition cabinets white and add new counters)