I know that is very popular area and would make a good investment if what you are saying is true.

Their articles keep you informed about federal and state laws, answer legal questions, have tips on marketing and turnover and all sorts of stuff.You should also read the CA landlord tenant law (it is on Dept of Consumer Affairs' site), to start learning about legal requirements (notices, security deposits, evictions, etc).Good luck!

Here are a few details about the property:In the Federal Hill area of Baltimore which is very desirable.2 Bedroom. 1 Bath, however there is plumbing, an old sink, and toilet that is "technically a half bathroom" per the owner.

What you describe is essentially creating a security, which is governed by federal laws and require a good bit of legal and accounting work to set up.  

The 50% rule is popular and of course everyone adds the disclaimer that it isn't the end-all be-all.  

I know this won't be a popular idea for those who believe in buying American made, but China has some awesome products for rehabbers that could be obtained at a fraction of the costs that we pay here in the US (especially helpful with higher end products, slab granite, ect....) but they require volume purchases and logistics might be a nightmare.

Since there is a huge migratory population, the military and federal prisons workers.

http://www.nfhs.org/National Federation of High School Sports.Texas University Interscholastic League1701 Manor RdAustin, TX 78722Phone: (512) 471-5883Fax: (512) 471-5908http://www.uiltexas.org

Subject to federal and state income taxes and self employment tax (i.e., both halves of the medicare and social security taxes.)

Then you'll need to check for bankruptcies and federal liens, but I can't remember if those are available online without a paid subscription service.Or, you can talk to a title company about just doing an "O&E" report (Ownership & Encumbrance).