I think before you start trying to figure out where to invest you should think about what your goals are, and then develop a plan to achieve them.

Welcome to BP @Scott HarperGreat achievement.

You should get an property condition assessment to see how much capital you need to bring it to at least warm shell, reach out to a local broker and pick their brain on the market, achievable rents, commissions, tis, and sales comps.

(http://www.biggerpockets.com/forums/223/topics/194...)Anyways, I've always thought it would be awesome to get into real estate investing to help me achieve financial freedom.

We are in a Small town / Suburbia area and I can't tell you how many times we have actually gotten calls prior to send out the first hand written letter .

I know first hand that is a great day for a birthday!!!

Or are you trusting the management company's information on what they can achieve in terms of raising rents.After owning and managing over 2,500 apartments the last 10 years it has been very difficult for us to make money on c class deals in c class markets because unit turns, vacancy, concessions and bad debt tend to eat up profits.

If you're into mobile homes, you already know the kind of cash flow you can achieve!

Whatever you do, I would suggest a hurdle where if you achieve X% return on investment then all dollars after that are split at a more sponsor friendly split.I do agree with Lew that you are better off getting ahead of the conversation on the arrangement now rather than later.Best of luck!

@Nadia ToranoCongratulations after 12years of education that is awesome you both have achieved Doctorate Degrees...