Hey @Adam Bartomeo,Not unlike many who have posted in this forum, I agree that the low barrier to entry is the underlying cause for poor performance.

Thankfully it's not a huge tax hit (we only bought in 2011) and I am too 'poor' to get hit with the medicare tax thing on L/t cap gains.

Doing it my self costs apx $500... an attorney probably charge 1500-2000.The goal is to be poor on paper but control alot!

In this case the seller lived in another state and through the use of bigger pocket tools you can prepare a presentation to the seller and show them that your a "sure bet".

If there is a high owner occupancy rate then I think you might be able to sell at FMV but don't bet on it! 

I find investors running into problems because their JV partnership was poorly structure and, all of the sudden, there are no provisions as to how to cover the need for extra capital to complete the project.

I bet there are houses that cash flow fine within 1 - 1 1/2 hrs of where you live.

@Jay Walcott it sounds like you have a good plan, but I think your best bet is going to be locating motivated sellers that don't already have wholesale contracts in place.

I am definitely trying to learn the process to avoid a hugely expensive education due to poor due diligence.

. - Perhaps you're right, but I would bet that pushing the heating costs on the tenants will result in a rent decrease that is less than the fuel savings; so you will get a net-positive gain.