However, it was not something that we planned on and I did not have any sort of communication prior to with that particular poster planning to highlight their services. good point Joe will have to see if I can see that kind of behavior..

Just kidding (sort of).A lawsuit will cost you $25,000 to $125,000 and a year and a half of your life.

Adding the current mortgage and utilities would be roughly $1,350 resulting in a profit of $650/mo.That a pretty good amount of profit/cash flow to apply to your mortgage on a larger house.

In the past few years I've had some larger tax billed at the end of the year and I'm brainstorming ways I can reduce that burden.If I'm able to pay of our primary residence or a rental property, which should I choose?

Make sure they send you a copy of the police report so you can follow up with the tenant causing the issues and send them some sort of warning in writing.

The big banks are going to mop of the assets of the small banks, larger operators are going to get more realistic prices on good assets, and the little guy is going to get the sharp edge of the stick!

For a super high income Bachelor or something of that sort maybe there is some appeal in what you said, but for people with families, na man I don't see any upside to NYC. 

G'Day Luka,I'm not a fan of out of state BRRRR.It's hard enough for us on the ground to get rehabs done on time and on budget and I don't even want to think how difficult, expensive and time consuming it would be for out of state investors.And then include a high LTV and that can be a portfolio killer IMO.Hat's off to you mate for grabbing the bull and jumping in.You live, you make mistakes, you learn and you grow.Such is life.Building a large portfolio is an absolute must when investing in sub $100,000 properties in Ohio.I "killed" my business by not wanting to sell to investors that are using leverage.Our sales volume could increase by 70-80% but it is what it is.I just don't believe in it or want the hassle associated with it lolReason is mostly two fold:1) Not in the mood to deal with lenders for 2 months and hope the deal will go through.2) I don't believe that investors should use high LTV when building the foundation of their portfolio.My advice to you:1) Pay them off as quickly as you can.2) Build a larger portfolio.The investors that $#@% the most on my name are the ones that buy 1 or 2 properties and expect miracles.As you said, 1 furnace goes out or a sewer line needs repaired and bye bye cashflow for 2 years.We get blamed although we can't predict to fix certain things and there are just many unknowns with all investments.Our happiest investors are the ones that own 6-7 or even 10+ properties and all with cash and no leverage.They aren't worried about turns or tenant issues that occur on 1 or 2 properties as it's just the nature of the beast.Returns vary but across the board over the last 10 years I have seen 6-10% net ROI's year after year.Building a large portfolio is a must to minimize risk and to get the best possible long term ROI.Thanks 

Cities like these offer untapped potential without the intense competition found in larger metros.3.

@Chris Kay finding a quality, cost-effective contractor is extremely difficult:(There are thousands of contractors that are great talkers, but rarely perform within budget.Standard bait & switch is to lowball a bid, then once they get started all sorts of things "pop up" that somehow their bid didn't cover.