The market is strong, good job outlook, and sound economy.My concern is that with so many other units in the complex that I lose control of the condition and pricing on those competing units.

@Tiffany T. feel free to come out to the FFREIA meetings, they are running strong.

The rental market is strong here and it sounds like you got it at the right price.

Maybe I'm wrong and just don't understand investments at a distance.This outfit from Memphis also listed potential cash flow from these properties, however, with the sizable down payment, the cash-on-cash return is back down to the 7-10% range, which is again quite possible with REITs or even some strong LLPs (EPB, KMP, KMI) or traditional blue chip stocks (T).** Disclosure: I'm Long EPB and KMI.

Having a strong "why" will eventually give one the passion and motivation needed to learn the "how-to" which is the ultimate formula for success.

I agree with @Joe Gore - until you can afford to shell out thousands of dollars to an attorney to structure everything with a bulletproof vail, go with a strong liability insurance policy.

Not new to BP but ready to network with all and everyone. let's make some money and strong relationships people!!!!!!

Are the strong businesses?

The free versions don't deal with any complexity at all.Unless you're a tax expert and understand all the intricacies of taxes related to rental properties I strongly recommend you find an EA or CPA who's experience with rentals.

If you have a strong historical capital and rent appreciation rate it might make sense to get into this market and wait for natural rent increases and appreciation to take hold and make for better investments if you wanted to stay local.You could also consider looking for turn-key investments in another city (Indy, Memphis, etc) where the returns could be much better - but the risk without having the ability to drive by the properties could be greater.