It probably wouldn't be my first choice as a pure investment, but now that I have it, I'm trying to come up with a way to invest in my next property without having to dip too far into my cash reserves.  

So by living there yourself for a few years, you have guaranteed that your place will have a great 'tenant' (you) for those few years, greatly limiting the amount of repairs needed.Third, some states have homestead laws and if I'm not mistaken Texas is one of them, where in a worst case scenario it is difficult for creditors to come after your primary residence in a worst case scenario if you get into financial trouble.Fourth, from a pure simplistic financial aspect it doesn't matter. 

Demarrius my first deal was honestly pure luck, I cold called FSBO's for an entire month. 

While some of them were pure rentals with 20-25% down, we buy as many as personals so that we can put very little into them. while our margins aren't as awesome as they could we still make $1800 before variable after fixed expenses.Again your strategy isn't necessarily bad, I just personally like to be as efficient as possible with my money making it work as hard as possible for grow.PS- Don't forget that mortgages are still low.

I cannot speak to the turnkey as we have always ever bought either personal properties or pure rentals but than I self managed them. still I wanted to drop a line since it looks like we have some similar goals and investing style.

Its purely a psychological issue......tenants think they are trapped because they have a lease....if people want to break it and leave, they will and its hard to enforce the $$ for the rent they didn't pay for the remaining leaseShe s a good tenant and my advice would be to go with the 6 months and you will likely see that  she stays longer.....be a jerk and she will start looking even harder for a new place

Plus, other states are going to legalize and Colorado will lose it's edge in that regard.So ya, don't invest in Pueblo because you think the weed industry is going to shore up the economy.But do invest in Pueblo if you understand it's pure cashflow at reasonable buy-in prices.

This happened purely by luck and chance but I have long had an interest in real estate and as of a few weeks ago we were in the early stages of listing the condo with the idea of re-investing the equity in a small (2, 3 or 4 unit) multifamily building.Our plans are unchanged but temporarily on hold due to damage from a busted pipe in an upstairs unit.  

Ex:Buy land (or mortgage for land) for $15k      Design or buy a ready blueprint for a single-family home  Interested buyer decides that he/she wants the home constructed that you designed and pays you $500k to do soYou hire builders to build you the home for $400kYou the difference ($500k-$400k=$100k)(the numbers I used are purely hypothetical to show what I mean).                                                                                                                                                                                                      

These in turn reflect back into the HOA dues.For a pure appreciation-only play, your particular situation may be ok, especially if its a newer property and you expect demand to increase in the area.