" I can tell your the kind of folks that would never let someone like this influence you or keeping you from buying a lot you liked "  and of course 95% would say your darn right that neighbor is not going to run us off !!! 

There are other ways to gain experience without jumping into a "bad" deal. 

I do have a $75k condo in Brianhead and it does NOT pay for itself (bad snow year, bummer deal, maybe this year it will).Seems like a few others agree that the small towns have good starting cash flow for SFR rentals.  

I would caution against buying solely for appreciation, markets shift...and if you get caught in a bad downswing out here, $22500 is a lot of negative cashflow.

This may be bad, but I’m using State Farm our there.

Mike,In my limited experience with property managers the usual flat fee is around 10% of gross income so if you are basically hiring them as such that might not be a bad place to start.

How you found it, how you financed it, the good the bad and ugly, the outcome, etc?

We have a lot of people on here who've never really seen the bad side of cheap money monster.

If you look how many wealthy investors started, you will find they started with a single home. That is why I take great pride when a member of my team acquires their first property. I have seen firsthand how real esta...

If they were that bad you should have identified the issues while you were inspecting the property.