On the other hand, it's always fun to learn how to set up a company!

Meanwhile in the exact same market that is "so risky" I am making money hand over fist ($100,000+ already in 2007) :beer: .

Also, go into the Section 8 program knowing full well that you are dealing with welfare recipients, and all the inherent problems that may go hand in hand with that.

First thing I would do is double check what "market rates" really are because if you're wrong even a little you'll have an empty building on your hands.

Also, as another poster mentioned, your local Housing Authority and various Social Services organizations if you really want to deal with subsidized housing.I limit paid advertising to the ONE local newspaper that has the largest readership and/or hands down the most rental ads.

Hello Ed,Let me be the first to extend a hand to you.

Learn it like the back of your hand.

You might find it a bit useful.Otherwise, as Equitydeals said, you need to do your DD before leaving such a large investment in the hands of someone you don't know.

For instance, let's say you like computers, then maybe you want to focus on real estate online marketing or web design.....or you like working with you hands, you might want to get into rehabs....or you don't like dealing with buyers, you might want to become a listing/selling agent only....and so on/so forth.

Then plan a way to generate or buy the required leads i.e. phone duty, open houses, running adds, bandit signs, flyer drops, cold calling fsbos, handing out cards to everyone you meet ect.....Then eat, sleep and breath real estate and you should hit your goal.