Purchase price: $70,000 Cash invested: $70,000 Bought a piece of property with 2 houses on it.

I am willing to do a bit of rehab if my agent can recommend a reliable contractor out there as well as a property manager. 

Congratulations on the first rental and all the knowledge you have gained from it to set you up for the next property. 

I want to understand how many properties are bid on by third parties and how many revert to lenders.

I had a W2 I wanted to leave and thought that owning 30 rental properties would be enough to retire from corporate life.

Instead of using your personal income, employment history and DTI to qualify, a lender would look at the income or potential income of the property to make sure it cash flows after taxes and insurance are accounted for.

My husband and I are still working our W-2s (and extra), but we can't move on another property until this one is at least paying for itself.

You can't see properties now without an agreement so if you haven't signed one, it doesn't matter who sent it to you.

Here's some articles that might be helpful for you:http://www.timesharescam.com/blog/191-how-to-verify-if-a-timeshare-rental-company-is-legitimate/http://www.timesharescam.com/blog/57-timeshare-rentals-timeshare-fraud/http://www.timesharescam.com/blog/131-timeshare-rentals-by-owner/Good luck!!

Most people that I know just sit on it for decades, while paying property taxes.