Hearing this sparked something inside me.A little about myself: I am 22 years old and currently work as a retail sales consultant and one of the major cellular providers, I have always had a passion for selling and as soon as I turned 18 I applied where I currently work today.

The strategy works, but it has it's major drawbacks.

Now this was only done with unlisted properties, which was the majority of my offers.

Being an entrepreneur is in my family and in my blood.Many people in my family are business owners or inventors.Where some people see SECURITY in a JOB I see restraint and boredom.I have always been a free thinker with an imagination and passion for creating things and learning to do things better.My first business was a car audio business at 19 years of age.I would in the years leading up to that pester this other car audio owner multiple times a week.I learned a lot from him just hanging out.He didn't mind as he knew my dad was killed in a car wreck when I was 16.College is theory and learning from people doing it everyday is real world.The first 2 years of college is just a rehash of stuff you already know.I made straight A's in high school so I already had the discipline and the smarts.After to going to college for awhile me and my other friends just didn't see spending years there when we could grow our businesses.I think college degrees are great if you know the demand for the specific job will be out there when you graduate.People that go to college think about getting into it but do not plan for the exit and the debt involved.College is an investment just like anything else and can be a bad investment if you spend time focused on the wrong majors etc.I do not believe sending kids to college to "figure things out" while they rack up huge student loans that they cannot get rid of through bankruptcy.

I'll second what Scott has said (with major emphasis on lawyer to review docs)Also, when I saw "craigslist", I cringed a little...

In December I had 1 vacant unit out of about 300, today I have 16, including one house just sitting for 3 months just waiting for the contractor to become available (major renovation).

The key here is to bring the house up to the neighborhood standards for rentals and to be sure that the major systems are in good order.

I am looking to start investing in the Temple University area b/c there is a major shortage of student housing.

The formula is just a starting point and prevents you from making a major mistake by paying too much for a property. 8)

Therefore, to determine your cash flow, subtract the mortgage payment from 1/2 of the gross rent.You should also be aware that the vast majority of people who lose their house to you will not be able to buy it back.