I think if it were me personally, how comfortable (and safe) my wife would feel in a neighborhood is the primary consideration if I were living there.That said, picking a home out you need to consider your long term goal with that home.

If it isn't and she is thinking this will help with rent credit then it seems that is a bad proposition.The amount of time a PM will take to fill those units is considerable.

Also what kind of expenses do I need to take into consideration besides electric, heating, water and trash?

Rehab and purchase on a credit line.Would like to tie up something before rates rise more.

But for a 6 month lease starting in November, December or January - I would give that consideration, since it would end just in time to be in the busy rental season, and then I could find a tenant to take it for a year.The real issue is the dogs and the potential for damage that they will cause, and whether you can recover money from this tenant to cover that damage.

Even if it costs a couple thousand, that's a rounding error on a $2.2M project.One other consideration is that developers earn their money the hard way, with blood, stress and tears... and more stress.

Regardless of the 401k considerations, I'm not sure I understand your math.

Some evicted lowlife e-mailed you wanting a rise out of you.

After some quick calcs, if you buy the second property and invest the extra $4,200 someplace else it would have to earn a 78% return so that your entire 18,000 would equal the yield on the first property.Also note that my comments above do NOT take into consideration qualitative factors such as the condition of the property, how nice the neighborhood is, etc.

Additionally, let's say that as consideration for the seller keeping the property under contract, the buyer agrees to make timely deposits on a schedule to keep the contract active that may establish 8% of the contract price by a date 30 days prior to the estimated closing date.In the event the buyer fails to keep the contract active, all amounts paid shall be forfeited to the seller as compensation for keeping the property off the market and holding expenses.