THE INFORMATION REPORTED BY THE SELECTED CREDIT BUREAU SHOWS THAT THE CREDIT FILE FOR THIS APPLICANT IS LESS THAN THREE YEARS OLD.Shows up as a big fat red alert. 

If you didn't have insurance and the home burned to the ground - what would you do?

Now I could've probably beat them down to 16-20k but you know the old saying, "pigs get fat and hogs get slaughtered."  25k was just fine.So why would they be happy with such a low number?

There is no crime or real danger like inner city stuff.. but the tenants are basically very low income.. so they cant afford much rent.. but you can buy homes for about 20 to 30k in those towns that will rent for 500 to 600 ... but they will never go up in value basically and if you choose poorly your capex will kill any profit.Do you have a burning desire to be a landlord... or is that just something you think you want or need to do.. there are many other avenues to make money in RE without dealing with tenants and taking on those risks.. not many people get rich owning a few rentals unless they are prime CA NY CHC  type assets. 

Will you need that protection, probably not, but your house probably won't burn down either and I am sure you are insured for that.

At this rate, some day it will be at a good price (LOL) but until then I am happy to let him pay his property taxes on his lot with a burned-out house on it...haha his problem, not mine, for now.

I'm in my first year of investing too because after 11 yrs in the retail side I'm burned out.  

So, don't let that money burn a hole in your pocket and don't spend it on a tropical vacation.

But for those that like it and excel at it ,,, its great.. but remember 9 out of 10 who try it in any fashion burn out and move on in 24 months.Its takes a lot of self discipline  and street smarts along with book smarts.

Why burn bridges defending dummy ads.