thanks - the above average properties will be seen and snapped up ...if interested in buying another property - get  pre approved so you can be prepared  to make an offer if a good property becomes avaiable - good luck 

Hi y'all, So I'm just getting into real estate, I have an LLC set up and will be closing on my first deal in a couple of weeks, a $68,000 single home.

This will build up n build up, and then yes, clog up with small amount of TP and make it hard to fix via plunger. 

I plan to hire someone to do the renovation, but I planned on coming up with some sort of vision for them to go off of.

The warranties always take a lot of time, and you will either end up filing a warranty to find that it is going to take too long and then purchasing something else the same day, or you will end up giving refunds back to guests while you wait on the warranty to be handled.I learned this the hard way when I first got in to rentals.

If not, you might want to, then whenever the keyword comes up you will be notified whenever it's being discussed on the forums.

And, as Nathan noted, you are likely giving up huge appreciation potential, which will likely never be replaced by cash flow.But at the end of the day, if you are in a declining market in LA and are able to find great deals in higher cash flow areas, taking into account the likelihood of needing to outsource everything and additional travel costs to visit the properties a couple times per year, and you don't really care about appreciation, then it could work for you.  

They could end up being terrible tenants.

It’s true it does scale up to 37% but not until around $12k of income after those deductions.  

Also, when you have a seemingly good tenant that ends up not renting, I always like to ask for feedback on why they chose not to rent.