However, the appreciation since then has been great, and that is part of what I'm counting on in looking for further investments here.

Just let me know if you are coming so I can let Bdubs know a count.

I make cash offers and hear "no" quite often but I just move on to the next one.In reality, the "all cash" closing I attended today had been extended three or four times too (I lost count) but that was due to govt. ineptness.

The neighborhoods you can reliably count on buying for <$30k are, what I personally, would consider to be D class neighborhoods. 

I have read a lot of post saying that lenders will count the rent you charge as part of your income.

So what you're counting in that first year is the process by which you pull your money back out, so you're looking at the return on your cash AFTER that, not the cash you originally put in.So in the case of the bldg I listed here, let's say I add $100,000 in value after cutting expenses and raising rents within the first 6 months.

You will have to count on appreciation.

Beware if you start looking at cheaper properties in the city - they are usually older homes, so make sure you are counting the big expenses like roof, hvac, plumbing that will occur over the years.

It is fantastic we can count on your stories, testimonials and of course advise.

On list source for instance my list count drops from 2k to 189 when i select only "out of state" so i'm thinking in orange county most will be in state