I fear you’re going to find that your minor gain is going to turn into a major gain because of the depreciation.

I'm definitely not in a hurry, so I will likely be spending the next few months reading books and visiting properties before I make any major commitments.

Then look for something that you can buy for lower than the market but rent at or above the market.Also find out what a typical rehab would cost you and break it down by major components (flooring, roof, plumbing, painting, etc). 

It would also be hard to effectively make offers without doing the math first, so I think the method would be counter productive.

What were some of the major factors that led you to invest in the areas you're in?

I was excited to pay for a better product. it must sync with credit cards accounts but I couldn't see where to do it.

I think my biggest concern would be a major expense occurring with no way to pay for it and requiring a special assessment.

@Allyson Straka Most major MSAs are at or near-peak levels.

It essentially needs new guts but a majority of the bone structure seems good to go!

Now, I hardly get involved unless it something major.