So, if you're actually trying to generate any short- or mid-term cash flow (i.e., before the asset is paid off), you may have to buy LOTS of assets using this method.

I have my own favorite areas - mid city, east hollywood, etc.

I considered buying rental properties in my mid 20s but instead spent the money on stuff like Saltwater Fish tanks and corvettes.

Simply "trusting" the tenants verbal that they want to renew and not getting it on paper has bitten me mid winter, when things are not so easy to rent...Just wondering if there was anything that could get the full 1 year commitment on a one pager, and make all the rest (lead addendum, radon disclosure, EPA brochure, and all the attachments that I personally use) stay in effect.Thanks again!

Drive thru during a weekday mid-day, and if everyone's home, it's probably not a good sign.

Mid 90's these places were purchased for around the same price as they're selling now, anywhere from 40-100k.

If you had some spare $ and wanted to invest for mid- to long-term outside of your RE Investments, what would you do?

Note that the OP asked the question in mid 2011.

To give you a little insight, it's 3 Decatur properties in the low to mid 60's for all 3. $20K per door isn't too shabby.

Belton should be a good area, lots of lower-mid range priced, mature areas close enough to KC, not to mention the military influence of the area.