I'm definitely having trouble with that though - I want the realtor to do as much as possible and minimize my time invested on each deal - ie I don't want to go sign contracts with owners, I want my realtors to do that.

Of course, I'll still have a real inspection contingency in place if I move toward an offer.So, I'm reworking some numbers to see if it is more doable...potentially as a rent for a year or two at minimal profit or break even, then flip which could reasonably net in excess of $40k.

.- Hardwood flors where ever you can with 4 coats of poly - I find this looks great and is minimal effort and quick for turn overs.- VTC tile in kitchens

., cash flow) but minimal taxable income, banks will cut you off from new loans.There are creative ways to get deals, too.

Each unit needed minimal work (mostly cosmetics) which I was able to tackle the summer before classes began.

Reason, I have the means to travel around the U.S. at minimal cost in a timely manner, so I could easily view properties in person on the cheap.

You're going to want to live near your first rentals, that way when things go wrong (and they will) you can deal with it quickly, easily, and with minimal time & cost.

My main goal in renting it out is to minimize our losses while we are gone-- I'm under no illusions that this will make us rich.

Off the top of my head;Less than 10% down, about 10%, but mostly with other collateral pledged10%>15% about 45%15%>20% about 25%20%> the remaining 20% Lease Options mostly 80% being 10% or less, 10% more than 10% and the balance minimal deposits usually financed.Seller financed first mortgages close to that of CFDs.Too many seconds to guesstimate.Hope that helps you in figuring out your market position/distribution.

This gives you a $137,624 a year of cashflow. 3 years of cashflow from this investment = $412,872 (Not to mention tax benifits)Total equity in the property after 3 years = 1.015 million 3 years of appreciation (assuming a minimal 3%/yr) $315,000 Downpayment of $700,000After a quick review and running these numbers I think that selling now and using a 1031 exchange into a profitable investment property would be the way to go.