It is as if you just finally went to a casino for your fist time, and walked out cash up.

Would look more closely at Ohio and Indiana.Atlanta, Chicago and Florida is on my final list.would appreciate more inputs from residents of those states mentioned.Thanks

You make money on the down payment, the difference in monthly payment and any residual as the final cash out by the third year.

Hey Greg,I originally started out in residential as a real estate broker.I looked at residential for investment but never pulled the trigger for various reasons.I felt back then the market couldn't keep going up and I was right.I know many sellers now that are STUCK and wish they could buy but they can't because they bought at the height of the market.I only do commercial now.From an earnings standpoint as a broker it doesn't make sense for me to put in 40 offers for an investor on a small house to maybe make 700 to 1,000 bucks on the deal when it finally happens.If I can put the same time and effort into commercial and make 10 to 100 times that much on 1 deal then why work more for less??

http://www.slideshare.net/celsenhans/top-mf-brokers-final

I have negative net worth so nothing real valuable to protect in a lawsuit at the moment :) At some point I will get more serious with that as my financials should finally start swinging up as I go through my 30s here (college debt can be brutal!)

It takes me (I'm not a realtor) so much work to find these things, then to rehab them, then finally to get a tenant into them, that I think it would be too daunting if I was looking at much more expensive property.

I spend a least 5K on every property after acquisition.

It seems tenants want to see the unit in it's final stage--sometimes they have trouble envisioning how it will look with new paint or carpet.

I have finally finished the rehab on my first investment property ever and thought this was interesting: When we varnished the floors, we didn't close the blinds backing out of a couple rooms and, well, couldn't walk back to close them because it takes a couple days to dry out.