I've been trying to purchase a rental property for the better part of a year now. It just seems like anything available on the market never works when I really look at the numbers. Here's an example of a current place...

Families that are looking for a home that have small children may be turned off by a pool due to the safety risk, but your experience may vary in the Midwest.Best of luck.

Even if so, once you start NETTING less than 6% of its purchase price per year, there's not much safety margin - UNLESS you bought it for a genuine LARGE discount off its market value.

This is a great reminder about the importance of the life safety devices (CO and Smoke Detectors) in the property.

Having just turned 40, it's always been part of my plan and trying to determine how much is enough  and do I have enough of what I call a moat of safety to weather anything that could happen with the market as we know we're in for turbulence. 

So essentially we are giving them twice as much notice as required by law.

My mother is a loan officer so I might be slightly off but I have heard you may be able to do a second loan within an FHA, essentially a construction loan to help fix up the property.

@Tomasz Banas so you had a chance to build a relationship with the president of a bank and you told him to go to hell essentially?

Essentially, one information I know is, the house was sold last year in 2016 for about $100k.

You'll be able to learn how to use the MLS, about your market, how to build rapport with buyers and sellers, etc, which is essential and will give you a competitive advantage as a real estate investor.