It seems to me by investing it I could get a much better return on my money rather than leaving it tied up in a house that I don't think can go much higher.

Marty said in the first BP Podcast that access to the MLS in essential even if you don't plan on making offers or listing (which I do) and it's much easier to look at comps and such yourself without leaving all of that to a realtor, and so he STRONGLY recommends getting your real estate salesperson license.

I like to collect last month's rent so as I am sure they will tell me when they are leaving.

That was why I was thinking condo's...I was hoping to find a nice one with potential in the 50k range and that would leave me some money for reno's and hopefully be able to flip it for a profit.

If you really want the place and are sure you can flip for a profit you have to put some skin in the game.

I plan to pull out 80% of the ARV as long as it leaves me with a positive cash flow of at least $100 per month after expenses.My thoughts are I can get some of the benefits of "flipping" (quick cash out) with out the tax repercussions because I am putting it on the market as a rental.The only question I am still researching is if I can write off the "Repair costs" in the same year because its a rental or if I will have to depreciate it over time.

If you leave your cupboard doors open while it's so cold, it will keep the pipes warmer.

if you are an avid skier, have a family that skis and want to always ski in one place might be a lifestyle choice with some perks (less planning, less competition for accommodations, able to leave your stuff there).

Example would be as follows:$1695 - Amount tenant pays for rent$152.55 - Property management fees (9%)$1542.45 - Amount paid to myself$1469.02 - Mortgage payment$1500 - Amount I pay for mortgage (I prefer to round up just to pay a little extra on the principal)This leaves me with the $42.45 profit from the property.I'm not sure how to buy in an additional market (or even go looking for one for that matter) where I could purchase an additional property for income purposes.

The plumber who fixed the pipes said that leaving a couple faucets on just the smallest trickle and the heat on to at least 55 degrees would have saved the pipes.