We knew we wanted to do buy and hold in a certain area, so we watched MLS, worked on deal analysis to be able to prioritize opportunities, and devoured books as our first steps.

I knew at some point I'd invest in real estate, and made a hobby of watching the local market, and reading all the articles in the paper about it.I was 35 before I was in the position to really commit to my first rental purchase - we had the money, the skills, and time commitment that we felt we needed to take the plunge.

I am lucky in that my parents invest, so I have been able to watch their processes and help with various items.

Ok - I just saw this product on the Shark Tank and thought is was absolutely brilliant (as did the sharks, as seen by the feeding frenzy to back the company): WallRXYou can watch a demo hereBasically, it is a product that lets you fill wall holes up to 4 inches in just seconds.

This should work for a day or two, until they figure out what you are doing, then the cones get stolen or moved.A fake fire hydrant on the sidewalk might work too.http://www.youtube.com/watch?

On the other hand, I've got a $1,700.00 television that I can only watch when my wife tells me how to operate it.

If you insist on rejecting the purchase, because of the projected cash flow, I can almost guarantee you someone else will buy it, and though they may lose money, in 10 years they may actually make money with appreciation and by watching their expenses carefully.

I would suggest you read appropriate articles from the learn section as well as watch the podcasts it will assist you in making the right choices.

This area will need a watchful manager, especially during vacancies, but can produce very high returns IF it is managed properly.

For the best info on tax deeds, watch this three minute video from Sandra Edmond, the president of the Central Florida Realty Investor's Assn.http://www.youtube.com/watch?