I have clients of mine that I have helped buy 100s of these price point homes.. they make it work because its their JOB... thats the only way to make this price point work long term .. but you will find that out over time.  

Thank you so much for your input, Ben Leybovich - I really appreciate you taking the time out of your busy schedule to lend your expertise to such a newbie investor!

You might have other legal expenses, like evictions, though.Also, I have commonly heard between 5-10% vacancy.Personally, I have tried running numbers on a lot of homes with 8-10% vacancy, and 5-10% for each of capex, maintenance and property management, and nothing ever comes close to working out.I think I'm going to just budget like $200-300/month for maintenance and capex, forget about property management (because that's my job, for now), and pray!  

and how is your credit.if you have a little bit of money IE the 3.5% it takes to get a FHA loan then just go that route you need a job and credit as well.if you cant qualify for a FHA loan there  are not going to be any private lenders going to do anything with you in any capacity... remember those books are just ideas and maybe someone gets lucky but its not the norm by any means.. they are selling dreams..

Hello Raul, Great job on getting the lead.

Depending on the job, it could be similar in price to installing the stairs inside with all the engineering that would be required.

Don't tell anyone that I told you, but...just wait until the Casinos are approved in the 6 sites scheduled for development.

I work a full-time job in the restaurant industry, which I would love to get away from because I would like to spend more time at home.

Back then, you could take the check ed Mcman sent for$ 6,000,000  to a lender,  have no job and a 500 credit score  and get about a million,  albeit,  at 10%.  

I am sure some of the hires are getting on the job training or recent graduates of trade programs and may not have a lot of experience.