I do realize the speculative side of my endeavors, I'm lucky I've got a small mortgage left on this triplex, however I have not been in this business long enough to have stockpiled enough capital to step it up to the next level, unlike the seasoned investors that I really enjoy reading here (Wheatie, MikeOh, All_cash, Tim and the others).

I just started real estate investment this year by purchasing a tri-plex and become a landlord in upper darby, PA.

Dan has laid out the high level formula, now just fill in the pieces and ask questions when you get stuck along the way.

I have Investing in Fixer Uppers by Fixer Jay, Rich Dad Poor Dad, Millionaire Real Estate Investor, and The Richest Man in Babylon.

The tenants are use to it and the playing field is somewhat level as my apartment is comparable to the one down the street (as per the rent and what is included). *** If no government or utility can lien on your property when the water bill is not paid, then disregard this entire opinion post (except for the very first line).

But you can put something like Get Your Home Sold Fast Today | Flat Fee MLS Listing ServiceConnecting a "for sale by owner" with a "flat fee MLS" real estate brokerAfter you have 2 different ads set up per ad group for split testing purposes, set up your ad extensions.

I was totally prepared to spray paint my upper body "o'connor in 08'", and not wear a shirt until election day.

Only you can decide what level of risk you are comfortable with.Oh, and about FSBO's...again, assuming you are a newbie, do you really want a cheapskate newbie SELLER advising you?

Once my first deal is accepted, I will begin calling these people and letting them know the deal that I have.By getting down to this level of detailed, you have thought out and put an action plan together to accomplish your goals.Good luck, and keep us updated.

The level of administrative support required is quite high.