I promoise "fix & flip" sounds sexy, but it's a lot tougher and less financially rewarding than you think.I agree with most of the comments above.

It's a 3 bed/2.5 bath colonial with a pretty open layout (considering it was built in 1969) which would have to go one of 2 ways -1) HELOC it and do a total rehab then list and sell for top dollar, pay off HELOC and use proceeds to fund this "joint venture"2) Sell as is, which is def going to be 50 cents or less on the dollar compared sold comps in the neighborhood (anywhere from 300K to 500K) and use proceeds to fund this "join venture"---> I'd love to hear pros and cons to both of those points <---From an investor perspective - what is the best way I should approach this?

A nearby building with with different income and expenses is not comparable.

I was comparing the $1,000 to what my home would currently rent for (2k-2,200).

I just want to see how much weight several properites put on me compared to the one i have now.

I am working on an article to compare different markets.As far as "becoming familiar with the rental market", I don't know if you mean the health of the rental market, the neighborhoods, or talking to property managers.

It's a great source to see what comparable rentals are going for (and to see if they are BOOKED or VACANT in the peak months, how quickly they fill up, etc.), and you might even consider contacting a few of the people on there to ask them about their vacancy rates, maintenance/property management, etc.

Compare prices on Realtor.com with the rents listed on Craigslist and you might get a good idea.

If not, you should consider it, that way you can compare the various companies with one another and make sure you choose the one that best suits your needs.

Now you have the opportunity to compare.