I started with a $28K condo outside Orlando and went up from there.If you're still a little aprehensive, hook up with another seasoned investor and offer to fund the deal and split the profits if they help you get it done.

@Josh Rich I don't like the fractured condo.

I also own a condo that I lose $200 a month renting and still owe 10k more than current comp sales.I'm considering quickly getting my real estate liscense for the education, access to homes and solve the unemployment issue.Any tips and suggestions would be greatly appreciated.

I've seen the same condo floorplan on one side of a building worth 20% less because it had a view of a parking lot and apartments versus a city-scape on the opposite side. 2) If your market area has basements, make sure you account for that.

Here are the numbers for the property, located in metro Detroit area (Ferndale):* 3 bedroom/1 bath * Rent: $800 * Insurance: $29 * Taxes: $104 * Vacancy (10%): $80 * Reserves (25%): $200 * Commercial Loan Payment: $160 * Cash Flow: $227* Out of pocket expenses: Down payment ($8,400), Plumbing/Misc ($1,500)The numbers are good, but are the numbers “great”?

Recently, I saw a nice Victorian condo in downtown Portland.

also heard some negatives for having a basement bedroom/bath.

Rentals run from $1000 a month to $2000 for a 2 bedroom depending on size and amenities.

Also excellent when flipping older homes where bedrooms were usually built the same and not very big.

Two bedroom apartment with a single dad and occasionally his three young children for a weekend.