Those both sound like great income properties and knowing the construction side will save you thousands over your lifetime!

I've saved enough for either my first house, or my first real estate investment -- and am coming to understand that it may need to be one in the same.

Motivation comes in many forms: retirement, health, divorce, burned out, bad partnership to name a few.  

I know I can get 3 people @ 300-350 a month not including electric (I've already inquired a few good friends of mine and they've all agreed to move off campus to save some money) With that being said, I'm thinking this will cashflow about $180 per month, which sounds great to me.

I am a retired scientist with absolutely no practical experience in real estate.

I've seen many times landlords try to save a few bucks on the lease and pay thousands in court and eviction fees.

I have sold my primary residence and using cash savings and equity (approx $200k usd) from that to start my investing career here. 

Wouldn't that save me $150x12 = $1800/yr and therefore I could look at my return on that investment as 36% annual return ($1800year/$5000), and therefore this would be a wiser option then focusing on a second property until I remove my PMI?

Here is what I recommend to save yourself a ton of money.Buy 25 blank yellow bandit signs and 30" H-stakes.

I'm retired, the kids are done with college [payments are done] and I'm relocating to Florida to protect my pension.