You can use a  Monthly Rent/Purchase Price (1-2%) as @Jason V. suggested and that is not a bad place to start but it doesn't take expenses into account which can vary widely (insurance, taxes, maintenance costs on older properties, utilities, etc).  

Brian Varmuza the answer will vary by market but in general, the hotter the market, the fewer the contingencies (including financing contingency).

Strategies can vary based on market opportunity, investor goals and simply investor preferences (regardless of returns)...lots of successful approaches.  

Depending on the quality of materials the pricing will vary but we were quoted $180K from one contractor and $400K from another.

I paid around $350.00, but this might vary according with the state you are in.If you have any other question, I will be more than happy to help if I can.Good luck!!!

I read it varies depending on the area of the Country but I feel it shouldn't be that far off.Thank YouJustin L

As in $200-$300/mo/unit ... this will be more accurate generally, but still vary depending on the size of the unit, number of bathrooms, fit and finish, class of the neighborhood, etc.

In fact, he has sent me to some networking events and they were all varying degrees of successful.

I'm in Texas (Dallas County) as this might be helpful since this can vary from state to state or county to county.Home hasn't been updated since purchased in 1961 and is only 1,254 sq.ft.

I am hoping to finish a masters degree before I take on a full-time job at a church as a youth pastor, so that could be several years from now--especially if I continue working full-time with LU.After reading several books about making money, I am pretty convinced that Real Estate is THE major on-ramp for building wealth--at least for people who aren't blessed with the athletic abilities of professional athletes, or people who inherit money/companies from their parents.