-There currently isn't much maintenence considering the property is 9 years old (probably about the time to start having some things break though).A little more info: I bought the property in 2000 so I am now beyond the 2 out of 5 year rule to avoid capital gains (shoulda sold it last year).

The number one rule of investing is to not lose your capital.

Just make sure that you don't get too anxious and get into a bad one.Here are my "Rules to Invest By":Never, never, never fall in love with a deal It is very easy to finally find what appears to be a good deal and to start dreaming of the riches.

Christy, the general rule of thumb is 30% profit.

I hear about opportunities in Utah, Ohio, MI, IL, NY but the main problem I do see with this is I dont really know the area which would then kinda break my rule of investing (Dont invest in what you dont know).

Of course, you will find out that other investors might be calling them regardless of the DNC rules, but you don't really want to get mixed up in that.

i've read real estate investment material that encourages using the phrase "and/or assigns" in an offer and i've also read that you should never use this phrase because it means that the seller won't consider your offer. what is the general rule of thumb concerning using this phrase?

It would make for good "get to know you" conversation with the tenants while you're laying down the ground rules with them.As for actual advertising methods, you can try:1.

One percent per month is my "rule of thumb" for even considering owning a rental.

If they don't know ask them who will conduct the auction and contact the auction house and ask them.As a general rule you are required to have funding to even take part in the auction.