But at a modest $250k, its quick to hit very competitive net yields.Largely this is a function of an inefficient market. 

@Charles Situ I like that layout In the first picture it’s functional loos good and more cabinet counter space etc - I have seen it before

Sometimes you'll need to go in with a laptop and record them manually..other times they'll have an easy search function on an online portal.Driving for dollars to build a list is also a fantastic way of finding motivation.

Specifically seeking out properties with bad paint and outdated/shabby (but functional) kitchens and bathrooms.

@Shelby LeBlanc, hopefully the lock change works, but if it is a contractor's "friend" as Patricia states, between a functioning camera, and a bluetooth lockbox you could have a good record.  

These function much like conventional loans but with different qualification criteria and similar closing costs.Hope that helps.  

When you can buy a functioning rental house in the mid west for 100k.. 

., make sure its in an area with robust retail sales) in case you discover that REI isn't for you. 

If that's acceptable, then doing an LLC with a robust operating agreement laying out the material terms of the partnership will be a good way to go about it -- an experienced corporate/RE attorney should be able to draft this for you. 

Always nice to have seed money and you're thinking in the right direction.I'd suggest using the people search function (if it hasn't been limited to Pro only), and find active BP folks there to send colleague requests to.