There are so many from Cali and Canada and NY who talk about trying/wanting to build rental portfolios in Chicago because they read cap rates are great on the south side.Here is a Chicagoan wanting to go to Michigan for the same reason.I don't know what/who is telling all these people that the grass is greener somewhere else or that being an out of town landlord is easy, but.....it isn't.

Truly awesome to go to an eviction and the first thing out of the judge's mouth is something like "if you have not paid rent for any reason, you are wrong..." you hear this collective sigh from all the renters in the room...all the while, every landlord is smiling ear to ear.

Great job Harman way to go Originally posted by @Harman N.

My credit is about 592 so I know I have to go the hard money way..while I'm working on that on the side l, I would like to get within a mortgage company as a loan closer, or anything that can get my feet wet.

Planning is great - I never was good at that - words are easy to put down on paper - other people's ideas are fun to experiment with and can make someone new in this business feel good for awhile I guess.Over 40 years ago I can recall as if it were yesterday - I was where many of the new folks on this site are today - I was motivated to make money in real estate - had a giant desire to create a little success (the low pay awful job I had, and a jerk for a boss just wasn't cutting it  - but I had motivation - i discovered quickly that it takes more than motivation to pay the bills.So this one seminar I took the guru said "set a goal, build your team and find a mentor".OK - I set a goal to get rich in real estate - to buy one house a month and to quit my job.

If you want the bank to accept less than the balance owed, they will require you to go thru the short sale process.

After property taxes and reinstating the loan and doing some landscaping work, I'm estimating there's about 15K equity on the property.My plan is to buy the property subject to and then sell it to a regular buyer but I'm not sure what steps to take to go through this transaction.

The Rental Property calculator will be the way to go. 

@Clint MillerI always like to go to meetup.com and search for real estate.

It's not a desirable suburb of Spartanburg.