I would want 3% times $283,000 or $8,490 per year.This does not address the $20,000 that must be paid down the road. 

Before you start comparing, pull up a google map and just look for 30 seconds... what are the natural indicators (major roads, intersections, etc); take a quick look at topography, is there a ditch or a river that runs in a certain spot?

I'm thinking NOTHING but instead I told her we could discuss that down the road.  

Before you do anything, you should familiarize yourself with the applicable state/county/city law(s) on the matter so you don't end up paying your ex-tenants money down the road for improperly removing their vehicle. 

I do not necessarily want to do the legwork that I am already paying the title company to do but I am curious to know if title companies take it upon themselves to exhaustively and systematically check for every issue that they can reasonably uncover or do they do the minimum and tack on exceptions.On the flip side, at least for me, I like to know what is going on behind the curtain anyway because the knowledge may come in handy down the road.

Buffalo, Rochester, Syracuse Bigger Pockets Members come on out Wednesday and MeetUp with us, bring your business cards and network and ask questions...Hope you all can make it:Johnny’s Irish Pub 1382 Culver Road Rochester, NY 14609 (585) 224-0990

Typical is 25% down with a 10 year loan term and 30 year amortization.Buy at an 8 cap and cash on cash return going in is 13 to 15% annually.You could go multifamily but are more dependent there on management to make the property work.You could also diversify and by a bunch of SFR type properties but then will have many sets of closing costs and also keeping track of various management companies.Also you could invest in a REIT, or a group doing a syndicate for a set return being hands off.Lot's of options but your exit down the road and time horizon will make a difference as well.

And Mike - you're right, I don't fully understand cashflow yet, which is why I'm asking the stuff that I'll probably laugh at down the road.

I'm trying to get involved in more but has come to a cross roads.

James I say me and you take a road trip up to Kansas City and start investing, the two of us together can do some real damage 8)