He did a great job of over-spraying my brand new roof with paint.

@Donald E AppleberryThanks for your reply.

I can't figure out why brand new houses would be comparable in price to 30+ year old houses in the same market.

We accept e-mail as written notice.  

E you should be fine depending on other liabilities on your credit.

See what I mean...For Federal tax purposes, look up 1040 Schedule E which is how you report rental income properties. 

What type of prices should I expect to e pay

They're building in the neighborhood next to yours, downturn happens, they can't sell, lenders are calling loans, they need to quickly rent to cover the expense, renters are moving into brand new properties for $200 less/month than your 5-year-old property.

Yellow letters, post cards, offer letters, birthday card style, etc... when you get to a point in your business where you start spending consistent money on advertising you need to dedicate some time to understanding at least basic marketing/branding fundamentals.

I am brand new to Real estate investing, actively on the hunt with deals in the pipeline, and looking to start flipping in the near future.