I'm in the very competitive Omaha market and have been driving for dollars and sent out 1500 post cards and waiting for those to produce.

This has been proven in other markets to bring massive savings to those looking for a product/service while simultaneously allowing producers to maximize resource utilization.

Your sock analogy doesn't work since the second one is not income producing making both expenses.  

After review of the numbers I knew this property could be a nice income-producing property with some effort.

All the under performing properties that owners have had for 20 or 30 years are producing little rent but selling high.

I think your first step is to educate yourself thoroughly on different passive investments that produce consistent income.

@James Galla Thank you so much for responding, and yes the main reason I would do this purchase is to refi and invest in an income producing property

I am reading what I can,  watching the podcasts, and looking at attending the local meetups as often as I can to get started.I greatly appreciate the work the team has done to create this site and the content they have produced!

The house will be income producing debt which is good not consumer debt which is bad.

The worst move you can make is hiring cheap management and expecting them to produce at the top standard.