My goal is to then invest in another within about a year, with this small of a return, I would not have the cash to do that.

Can you actually use expected rental income to qualify if you do not have prior years of landlording experience via tax returns?

The return numbers are pretty good.  

This is a returning topic around here.

Recent article in Dallas business journal states Dallas is among the worst markets for flipping at a paltry 29% gross return on investment for the past quarter.

Third, share your business plan with them and the return you are offering.

I've determined from REI friends that are investing in northern Colorado (Windsor area) that this market is not where I'd like to start since they are primarily focusing on appreciation returns and not passive income.I've looked at areas out-of-state (NE Ohio, Missouri, TX, FL) to start but that's about it.

I've determined from REI friends that are investing in northern Colorado (Windsor area) that this market is not where I'd like to start since they are primarily focusing on appreciation returns and not passive income.I've looked at areas out-of-state (NE Ohio, Missouri, TX, FL) to start but that's about it.

If your intention in investing is to maximise your returns inform your tenant that they are below market and that you will be raisin rent 400/month in 60 days.

learn about 1031 tax deferred exchangescomplete you financial package - 3 years tax returns P&L - real estate portfolio, credit scoreexpect to be rejected by lenders and other W-2 employees - qualify lenders, bankers, mortgage brokers - ask what products they have - see if you qualify for themlook at 20 buildings before offering on any - know the SF dollar cost - keep a journalmail lots of letters (be professional NO yellow childish communications) to owners of apartment buildingsUnderstand what a CAP rate is and how to get to it - fill out your  commercial APODVerify -verify - verify all financial data given you by sellers - sellers are liars (so are buyers) trust NO One!