Before you get into the game, it's best to research and know your market first.

Hi Christine,While I personally would not be interested in a property that does not cash flow (or will cash flow after some rehab is done), if you are playing the appreciation game I would make sure that the property at least breaks even when all the costs (including vacancy) are factored in.If you are at least even, you are having someone else pay down the mortgage which at least still makes you some money, even if it is tied up until you sell.

I am just starting to break into the real estate "game". 

Let me preface this by noting that any of the individuals I would approach would be people I know quite well as I've established business relationships with them over many years at my current place of employment (since they know where I work, they can be assured I'm not going to run away with their money).

In California, if you can get a neutral cash flow you are ahead of the game.

we had about 50 million out and that was 250 investors.pretty sure you will find like kind companies in your state no problemthen just look at loans they present you and make sure they make sense.DONT do this with NEWBIES or people hitting you on the internet talking a great game.. you need to belly to belly and make sure your aligning with top shelf experienced players. 

Post Dodd Frank Act and all the new Federal lending laws, proving ATR (Ability To Repay) is the name of the game these days.

I like the sound of this I will do my research and establish a relationship with a local bank.

@Mark Williams if you have an established relationship with a broker in your area, they should be able to pull up information on comps so that you can look at price per door.

If Yes on Question #2, how should the assessment values between land and building & improvements be established?