So buying a foreclosure, doing the rehab and then finding a tenant and a PM seems a wee bit off our hands cause we're so far away from our next-to-be investments.I saw Dallas as a good spot but it seems that ROI is not as good as in Tampa.I've heard a lot about Kansas City : low prices with the approx. same ROI.Tucson is hit hard and foreclosure inventory stays high, but it may seem a good spot too.We dont want to invest in Miami as we think the town is pretty much overrated and wont get back to the insane level of median price.

Although NYC is great at filling homes, it is so hard to get to that level with the amount of money you need to start with.

I'm surprised at how many investors "accept" the status quo as the only way to do business, accepting a certain level of risk as "acceptable".

Ben D.Liability protection comes down to a person's comfort level too.

Even OJ Simpson, who visited my next-door neighbors home and replicated their rock pool, had his former residence dozed and leveled and a new structure built in its place (although no one is alleged to have died there).

Can you open a cap and put in a stick and check the oil level?

What kills me is that you are assessed at a value higher than reality, however when it comes to borrowing money from a lender they value the property at a much lower level.

thanks again John, but I think the NYC area market is so competitive it may be hard to find a deal or may require more leg work than I have the time to afford. other than the multi-fam route i could:- purchase co-op (condos are less common here) in the BK/NYC market as a occupant, build equity and hope it appreciates - downside is that down payment + cost to carry will be at the upper end of my comfort range, so a good chunk of my paycheck income will go towards my housing - purchase condo as an investor in another, less expensive, market.

In general I do this in all but bedrooms on main level for lower end homes then more depending on the house and area all the way up to the entire house.

You want an entry level technical job at my day job (a large computer company) and you better have a graduate degree from one of a very short list of schools.