However, the town its located in is now growing and at a good pace.

I didn't realize how quickly this business would accelerate the pace at which I burned thru cash and credit.

The next question would then be, what will the pace of short sales and foreclosures be in the months ahead?

Ryan- I am enjoying it here, a different pace then what I was use to.

Also, as your rents increase, so do the expenses and I'm betting that expenses will AT LEAST keep pace with rents in the near future.

Everyone starts real estate investing at their own pace.

Not considering the recent runup in prices, housing generally keeps pace with inflation and building $100,000 in equity after 10 years does not sound far fetched to me.But like I stated before I am a novice and feedback such as yours is appreciated.

You can accelerate your pace if you have the time to do so.

It looks very slow paced and peaceful.Who knows I may want to retire there in 20 years!

If you've got school or other things to worry about, you might just want to put it somewhere safe, like those or even government I bonds (which are guaranteed to keep pace with inflation) until you're really ready to spend time doing real estate invesments.As to avoid getting screwed over by someone else, just don't ever sign anything until you've read and understand it.