My goal is help people get into a nice home with a landlord they can count on, improve the neighborhood and generate long term wealth for my family and to supplement my pension from the Fire Dept, As a start!

I love the idea of investing locally and improving the community while building a strong portfolio, so I find this really compelling!

There are some interior cosmetic improvements I plan to make utilizing the cash flow of the property over the first year.

I will offer less than the $200K its advertised for, trying to get it for $190K, which will improve the free cash flow and ROI slightly.

I will offer less than the $200K its advertised for, trying to get it for $190K, which will improve the free cash flow and ROI slightly.

It will be tough to qualify without a lot income to show but it will depend on the loan size (you might not be able to do FHA 3.5% but you can put more down to lower the loan amount and improve your DTI).

Definitely consider an LLC now, it will improve credibility on your first deal in presenting an LOI or even approaching a broker/vendors, lenders, etc.

Here is one that is currently going around in my town of Waterloo, IA that i think could be a big deal for landlords:The Community Development Waterloo, Iowa Lead Hazard Control Grant completes improvements to your home to remove lead based paint up to $40,000.Both owner-occupied and rental homes can participate.Your home must have been built before 1978You must be income eligible & have children under the age of 6 who reside or visit frequently.This money can be used to replace windows, doors, or siding with lead-based paint.

A third use is lead acid for batteries.

Any suggestions for an inexpensive preferably battery operated intercom/doorbell?