While I was there I ran the central heat to burn off the dust that collects when a heating unit hasn't been run for 7 months.

Hey BP,As all of us in New England, Boston, Massuchusetts last winter was really cold and snowy.My tenants in my;-NON insulated- built in 1912 --1300sqft per unit w high ceilings -2 familywere very cold and burned thru some serious OIL.I worked with mass save this fall and have a quote for about $9500 to do the entire house.

So, I was quite surprised when I received this comment yesterday:BIG FAT LIES.

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.