I’m keen to agree, everyone wants to sell at the top of the market and they think that potential is coming & not always realizing it is already here.

I initially got a 15-yr 10% down conv loan @ 3.875% (#DaveRamsey) until I realized the benefits of leverage.

Personally, some occupants don’t realize things like a leak or can be afraid to tell you about it.

BUT realize that when you slash too much you can get a lower quality of person staying that won't take as much care.- I maintain over 90% occupancy across all my cabins. 

@Kyle Mccaw that's awesome - I'm currently in Fort Worth now and have been doing some research and looking into neighborhoods, etc. for my first investment property...starting to realize strategies such as what you did above (Facebook posts, distressed properties) could be a good way to find a deal in todays market.Thanks for the confidence boost.A couple questions: you said 130K was invested in rehab.

Example: say the kitchen needs gutted/remodeled and materials are $2K (look it up) and the quote comes in at $5K, you start realizing what LABOR is costing you.

@David M.I didn't realize I took over a post was not intentional!

In retrospect that is a terrible arrangement for me, but I didn't quite realize this until after the second time working with him.

I believe (please back check this) that the capital gain is not realized until the seller receives the money over the amount of his basis.

Just realize that there are pros and cons to it all.Good luck.