They are not cash equivalents.Serious real estate investors should always keep enough cash or cash equivalents on hand to jump on great deals. 

And once you actually get the property, it will also depends on how well you list it.Average is a good overall indicator for the whole market but i would not use that when doing my numbers.I have single family homes in the $1400/mo and i don't see them vacant at all and when old tenants moves out, we already have new tenants ready.On the other hand, properties over 2k/mo takes 1-2 months to rent out.To be on the safe side, i would do what banks typically do, and that is 20% vacancy rate..

Step out and forget about collecting - its usually fruitless.On the other hand - I did succeed in collecting from one tenant once. 

You'll get a greater ROI if you are hands on but it will also take up more of your time: visits to your investment area, finding reliable "boots on the ground", managing the process from afar...Personally I'd be looking at the full turn-key experience where you pay a bit more for the property but it is ready to go and you can enjoy getting the return on your investment.

Tampa on the other hand may be too far along in the cycle and much harder to make cash flowing investments if that is what you are looking for.

On the other hand, it might be necessary to own at least one lease to feel like a real Oklahoman.Best wishes to you.

You can do all of this simultaneously, so that when you finally have a deal in hand, you have a couple of arrows in your quiver to execute.  

The entire point of my strategy is to provide a helping hand to people who are in need.

You may need to offer cash for keys or start the eviction process if you have the foreclosure deed in hand from Sheriff’s Office.

Otherwise I’d be interested.Georgia on the other hand, you could definitely make that work.