Let me tell you something about quality tenants with steady incomes and respect for rental properties - they're a lot like you and I.

Here the numbers on my first property:Acquisition: $50,000Cash to close: $14,000Mortgage PITI: $329Management, Repairs, CapEx, Vacancy, Utilities: $360Monthly rent: $850Monthly cashflow: $161Cash-on-cash ROI: 13.8%Not a killer deal, but it's great to finally be making forward progress!

("Don't ever confuse motion with progress." ~ Hadley's Law)The way most people get started in RE is to work their COI (your circle of influence == all the people you know) and going out from there, asking about anyone who's at least THINKING about selling their house.Also, you'd be surprised how well Craiglist ads, Facebook posts and other FREE social media can work for you.  

So as I sometimes do, I forget I committed to a diary on how things are progressing.

Steady cash flow and investing would be ideal at first.  

i would check everyday to  gauge progress,catch mistakes.This way you know if you are on time and budget,the matierals are there and to correct any mistakes in the early phases

A neighbor suggested TSP, which sounds reasonable.Eventually I might coat the floor with an epoxy paint, but that probably has to wait for warmer weather, and I need to make progress on the stains if I expect the paint to stick.

I was wondering if the market there is still pretty steady around the $350,000 range?

I look forward to progressing smoothly and rapidly through the next target!

If materials such as tiles are stolen from the home the cost would not be covered in a traditional homeowner's policy for the home you live in.As your investment project progresses, your insurance needs also change.