Ideally, I would like to make REI my full time job and have several properties to manage around the area, but we are planning to start slow and not get in over our heads.We have found our first renter!

I know it normally involves a single tenant and a 2 year lease, making the program ideal for 1-bedroom units.

The negotiations weren't ideal - the lady I dealt with wasn't very responsive but ended up making the deal work and so far i'm happy with the experience mainly because of all the extra money we are getting!

We view this property as an ideal first home for a young family with one or two children.Comparable properties in the neighborhood range from $120k-$150K in 2010/2011 to $130K-$165K, and averaged $88/SqFt per sold home over that period.Needs: 1.New Roof - $7000-$10,0002.New Windows - $4000-$60003.Kitchen/Wall Removal (bigger eat-in kitchen) - $6000-$10,0004.Upstairs Bathroom (gut/replace) - $2500-$40005.Update Electrical - $1000-$30006.Patch/Paint Throughout - $1000-$25007.Update Front Porch (Curb Appeal) - $1000-$20008.Floors (Sand/Stain Downstairs) - $1000-$15009.Floors (Replace Upstairs) - $1500-$2500Addition: (6’x15’ Mudroom/Laundry/Half Bath off rear of house) This addition would help attract absolute top dollar by providing space for a first floor laundry room, an additional first floor half bath, and mudroom at rear entrance from garage.

The best investors that I deal with evaluate their deals by risk more so than reward.

Ideally RE is the golden goose, but if it's more down than up for a while you can still support yourself.

@Jeff McDermott Softaer is somehting I deal with all the time as a local marketer.

Ideally I try to keep it within the last 3 months. 3.  3 to 5 properties4.  

Ideally I would talk to a lawyer about this, but it is not in the budget at the moment.

Landlording in mobile homes doesn't seem ideal to me, and I think a safer bet would be dealing with tenant-buyers.