@Wayne BrooksThanks Wayne.It's been two weeks on the offer and in that time I've found some other properties that I'm investigating their time on the market.

You can hire a skip tracer to locate them, a Constable, or private investigator but do the tenants have jobs? 

cool edwin, investigating cost for future offers is why.thanks,matt

For example, I'm in Chicago and I'm investigating suburban markets that have a higher than normal concentration of multi family buildings. 

Originally posted by Aaron Montague: @Bily Elliott I get $393/month in cash flow with the following assumptions: (With 20% down and 4.25% rate and $450/month in rent I get $595/month and 20+% ROI) 130k Price Rents @ $400/month each Mortgage Rate 5.50% Length of Mortgage in years 30 Monthly Mortgage payment $553.59 Taxes $83.33 Sewer and Water $- Trash $- Heat/Utilities $- HOA $- General $150.00 (might be a bit low with college students banging on the place) Insurance $100.00 Mgmt Fee $160.00 (10%) Vacancy $160.00 (10%) Total Expenses $1,206.93Let's not make such wild assumptions and fill in some information:130k PriceRents @ $400/month each -- OkMortgage Rate 5.50% -- Bank Rate just gave me a 4.54% add .5% for NOO and your in a more realistic ball park.Length of Mortgage in years 30 -- OkMonthly Mortgage payment $553.59 -- And We already Agreed on this.Taxes $83.33 -- Did we investigate the taxes and figure out if this is a real number or if it is going to change with the sale?

After 6 months of reading BP, going to meetups and REIAs, finding a super-sharp investor-friendly realtor, investigating money sources, etc., I made an offer on an MLS listed property that needs some rehabbing and ended up getting it under contract.

I worked with the tenant's insurance company investigator.

Hi Julietwe own rental property in Florida & investigated the LLC issue.We have a good attorney who advised us otherwise.I can't find the original article/decision he sent me but the following may help...we just have high liability insurance & the mortgage is held third party @ arms length.http://www.alperlaw.com/asset-protection/family-limited-partnership-llc/single-member-llc/

The city investigates, and sends notices to the airbnb hosts.

If not, investigate these, find something you like, scrape up the money or apply for scholarships and get some skills.3) Find another job. 4) Save SOMETHING. 10% of each paycheck would be good.