Looking at Properties on the California coast where prices for single-family homes rarely head below 350K and even condos start above 250K...it seems unwise to begin a career in real estate investing here.Occasionally though, I will see a 1-bedroom condo in Los Angeles or San Fran in the low-100K range or so...or maybe a 2 or 3 bedroom condo for 150K.

There are exceptions to some of the comments that are below, but, in general here are just a few of the differences:1. 30 year mortgage does not exist.

Dont drink anything but water, preferably filtered, not distilled.

Section 203(b) has several important features: -- Downpayment requirements can be low.

In that book they say if your turn over rate is shorter than this then the turnovers are costing you too much and if they're longer than this then your rents are to low and you are throwing money away.However when I get a good tenant I will gladly keep them a little bit below market just to keep them.

yes, I have a short sale out if new york...was purchased for 560, now the broker wants 400, and does any thing I should go with the 20% below the asking?

Below are the figures.

I think you would have a better chance of purchasing below market if you concentrated on regular sellers since there is some desperation or emotion involved.

A little more information is included below for your reference.IRS Eyes FlippersIf you complete multiple transactions in a short period of time, the IRS may consider your property transactions to be a business or trade rather than an investment strategy.

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