They want to sell for one reason or another whether it he hardship or profit, time is on your side.

@Edward Rangel yes you pay taxes on the net profits of course, but with a rental you also have depreciation deductions etc.

You would have made $3000 per month in profit (capital appreciation) in the NorCal property, and $500 per month profit in the Midwest scenario.

@Derek Boone, I originally tried to stray away from condos, but this one's HOA fees weren't major IMO.

At the very least it is both going to surpass income from my other (2) businesses and for ROI on my time it's the most profitable.  

Not to mention the first $500,000.00k of profit for couples is tax free.

.#3 Hidden costs:   Even if you sell your property at a higher sale price than when you bought it, agent fees, repair fees, capex fees eat away at your profits.  

So I found 4 that I can buy for quite cheap and then others in the same park are selling for about 30,000 which would leave me with about a 10,000 profit also with less Sq ft I could be done fast.

We have two major ones and plenty of smaller groups.

Sometimes you can partner with builders and share the profit.