Turn key I assume?

Also, you will have really high utility bills, because your guests will leave the heat at 75 degrees with the window open.You will also have to either get a management company or deal with marketing, reservations, contracts, receiving payments from guests, security deposits, housekeepers, maintenance, keys, etc yourself.

I know automation is key at a certain point in your business, but as a new Investor, there's a sense of wanting to do things manually (eg, I can build my own websites and wish to insert my own language (my brand) into email responses.

They are generally around $150-$250 per year (depending on if you have youthful drivers, how many vehicles, homes, etc.) and although it's probable that you'll never use it, it's well worth the investment if it's ever needed.If you already have a personal umbrella, and you do purchase a property in your own name, be sure that your agent adds the rental property to the umbrella policy so coverage is extended to that risk.

They will always WANT as much as they can get the key is to see what they will take.Easy numbers, say you think a place is worth $70K and you ask them what they want and they say $100K.

@Craig PriceWelcome.Check out the Start Here page http://www.biggerpockets.com/starthereCheck out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

Have just a couple items/questions (really there are sooo many, will limit to two) to sum things up: -Got my "Sacramento" key word dialed in!

The key is finding out why the taxes are not being paid.The bottom line is that it is a stronger position to have the owner of the lot be the same owner of the improvement.

A condo can be a pretty turn-key rental.

Great time/area to get started.Check out the Start Here page http://www.biggerpockets.com/starthereCheck out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.