I would add "good schooling disctrict" to your search criterias for a good market to target.As for your plan of attack, I would suggest utilising more channels of outreach to market to your leads for better chances of success.

I purchased this condo right out of school, fearing that I was going to be priced out of the market because everywhere I turned, new records were being set in housing prices in the Seattle area.

Purchase price: $470,000 Cash invested: $60,000 Sale price: $440,000 I purchased this condo right out of school, fearing that I was going to be priced out of the market in the hot market of 2007.

You might want to narrow down your search to certain indicators like crime rate, school ratings, proximity to cafes/restaurants/shopping, and healthcare facilities.The only way to know if the rent roll would cover mortgage and expenses is to determine the rent. 

so it seems I shoulnd't do it if it is not fot 50K or more a 5-10K investment seems not worth the cost.since you mention carryforward loss forms, for both state and federal, since I use a CPA today, how do I know the history of the loss being carried?

If they are mostly families, you'll want low crime areas and good school districts.

I totally understand that real estate is not a passive investment, I've worked exclusively in the multi-family real estate world for the last 10 years and I would be the one findings deals and handling the day to day  Unfortunately, they are old school and don't talk about finances with the kids.

But there are many great municipalities within Milwaukee county (hint: look at school district ratings) and even more opportunities in the suburbs. 

there are no strategies  but they can be complicated you just need to get on the counties or states websites and read how they work.. anyone who has graduated high school can figure it out.. its not toughmany of these companies do these feeder events.. and are really just looking to dump their liens on newbies. 

and I took the uts portion that was easy 25 questions . and that is an important little thing to have as well.the website were you do your mortgage call reports for me being old school is uber hard to use..