Living outside your means can make high income earners broke while living within your means can make low income earners wealthy. $500/mo cash flow is great but becomes pretty meaningless if the person makes irresponsible financial decisions. 

If it goes to court, technically the one who moved out broke the lease and is also responsible.

But you never know, you might find a great deal, and even if you broke even you would learn alot and be that much more confident on deal #2 to extend yourself a little further.

Luckily we are frugal Francenes and can afford to get the rentals back up and running pretty quickly, but I'll be more broke than I've ever been.   

I still have a (JOB), and I am attempting to work on my exit strategy from (just over broke). 

I am now a stay-at-home-mom with a 2.5 year old girl and a 1.5 year old boy.

We had a girl who was head over the heels about the place at our open house, but her realtor has advised her not to put it under contract because he is confident it will get a low appraisal due to the appraiser only using in project comps (he also mentioned that it is a VA loan, and they are very strict about staying in the project).I also believe that the realtors are not even showing this to their clients because of the above reason (though we have had about 4 showings).  

If something gets broke on Wall Street, the entire infrastructure feels it.

I have an awesome wife and two awesome girls who keep me focused and driven on getting the ship headed in the right direction.

I started looking at the HUD list because, at the time, HUD offered a 6% co-broke for purchases, and would pay 3% toward closing costs.