I will have reps from Invitation Homes, AH4R, B2R Finance, Key Property, HomeVestors, Auction.com etc.

I'm willing to be patient as I start out.

I'd offer cash for keys, fix the place (maybe send to insurance company) and get a new tenant that can afford it.

The key question for all investors and this should be done about every 3 months: what is working right now and going forward?

@Tracey MontgomeryIts very possible and actually works out better then investing in local markets depending on the market prices of the local vs out of state market.I used a turn key company for my out of state interests.

Sounded to me like a guy who had been around and who carried on a good business approach to RE multi-family.RE is a business, if you're business minded, an astute student of business, you'll find the podcast a great introduction into the business.What was not explained was the interpretation of the business, the demographics and drilling down to the street level of the project which is absolutely the key to multi-family housing.

@Will SandersWelcome.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.

As you can see, the key is to find a lender that works with investors and "Gets it" then they can help you find out what is the best plan of attack for you.

I buy my washer and dryers slightly used on Craigslist for $30 ish (just make sure they are nice ones, "wanted" adds are key for this), and $30 each could potentially add you another $300 in month.

Beautiful family build the legacy.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.