There are some sticky posts in the Rental property forum that will give you a real life view of the "50% rule" (expenses are 50% of the gross rent), and buy you need to do much better than the 1% rule to have a deal.Frankly, I can't think of a worse place to invest than Detroit.

Hi Everyone,as ive been lurking here for awhile i thought it was time to introduce myself.I am a real estate investor/rehabber from the western ny area.I do prob 90percent of the work with my wife(yes its amazing were still married).Ive been in remodeling my whole life in one facet or anotherWe do one house at a time and so far have bought with cash,but im thinking of starting to use financing so i can have more than one going at a time.just finished one last week if anyones interested i can post pics,just let me know or if any questions id be happy to answer as well .thanks all and good luck

I need a life.....

Also, I have found that a property manager makes life much better and well worth their commission.

The problem is that i cant relate what im reading to real life scenario

Such is the life of a New Yorker.I like Indianapolis for several reasons, first among them is the cash-flow opportunities.

Bird dogging may not pay money but the knowledge you will gain may change your life not to mention you are gaining experience.

Also, humanize the transaction by sharing the plight of the seller and explaining to them how they can really make a difference is your best bet!

Hands on real life experience is the way to go!

I have lived in Pittsburgh my entire life, and in the last few years became interested in real estate after completing extended research before purchasing my first home.