We have been doing all the up-front research and reading, setting up our back-end systems, developing our business plan, and networking (when we can, we have 5 kids that take up a lot of our time :p).

I feel like a little kid in the REI back seat... driving long distance to Fayetteville...

It is a pre-manufactured, and much "beefier" (Lower left photo) support system designed to provide additional vertical and horizontal resistance in wind, snow, and seismic zones for which the design criteria has been pre-approved and stamped by an engineer.

They might have a situation, kids and old people there.How do investors deal with it?

But I Have few questions about it..(1) he said he want to use part of the money to pay IRS debt of 28000 (2) use rest of the money for addition to the house and than go to conventional financing ...

@Jay Hinrichs --That's a good point, I could act as the agent in these cases, and earn a commission, But what I am really looking for is my own experience in addition to the money.  

Glad to see another addition to the Cincinnati investors.

The additional factors that are at play here is I still have 1.5 years to be able to get FHA loan or 2.5 years for a conventional due to a short sale of my primary residence way before I started pursuing REI this past April.

You might also have marketing expenses with turnover, in addition to vacancy.Jim.

It could be either a coop or a condo - in a coop you own shares in the buildings corporation that entitle you to occupy a specific unit, in a condo you own the physical space. they'll have either maintenance fees or HOA fees as an additional expense, and these can go up whenever the board voted on them.