From what I can tell comps indicate a value of $150k based on a couple recent sales.  

Read books on investing in real estate, listen to the podcasts, attend webinars and stay active on the forums while connecting with other investors in your area and pick a niche.

Please let me know if you think this is a good strategy for my situation.I bought this property for 40k a couple of years ago.

My husband and I have joined a couple good REI groups in the Dallas are.

I was talking to a well known couple who have been investing in Saratoga since the 90s just a couple of weeks ago (Fred and Shannon Scheidt of Saratoga Excelsior Group).

Should I attend a physical real estate school or should I take online classes?

It protects them and allows you to keep your holding costs down a little.I've never done it, but I've arranged financing for it a couple times and had the deal fall through (knock on wood).Beset of luck!

If you were quoted 7% from the PM, I'd use 8% in your numbers in case there are fees for things like uprenting, but even if you're a couple percent off, it looks like a solid investment to me.  

Find a local REI club and attend some meetings.

Hello everyone I've been a member of BP for a couple of months already.