As a new real estate investor, you should start in your own back yard where you have the advantage of first hand knowledge of the market, the customs, expectations, laws, and a network of friends and acquaintances who can help with advice.  

You can just put it as the first item on your extra 20% budget of unplanned expenses that you budgeted for, right?

Well selected local, hands on REI beats the heck out of DGI, though ... but you work for those extra returns and to maintain that extra control; it is far from passive.

It is that easy to gain more knowledge and be more skilled when it comes to the real estate industry.

I think in your situation, I would be using the extra savings from your very low rent to pay down debt and build savings.

@Jesse Mills  Just in the for whatever its worth file if I get a message from anyone that even looks canned etc I turn them in for spamming.. you need to make your messages somewhat personal and take the extra couple minutes.. don't just cut and paste

I know that I will have no problem renting out the spaces for a total of $400 extra income.  

You seem to be the most knowledgeable and active for Hampton Roads on BP.

On top of that, I have extensive flipping knowledge and can handle almost any renovation.

Hi everyone,I analyzed the deal below and found out that if I had a property manager, accounted for other expenses, and put in an extra $20,000 for rehab costs, I will cashflow $270/month.