A little about myself:I am 25yrs of age, grew up mainly in the South Florida tri-county area attending middle through high school, and then moved to the Orlando area for college at UCF.

A lot of REI are fairly high income successful salespersons, lawyers, doctors, etc, or are just very frugal relative to their income level.

It seems pretty kosher to structure your deal so that all costs related to these fees are attached to the closing costs so that all investors would equally share in the cost.I hope this helps!

Often it will be temporary, but temporary is relative and may be longer than you want.

By the way, your 5% for repairs/maintenance is low unless this is a relatively new building in great condition in an A class neighborhood.

I'm relatively new to real estate investing, currently renovating my residence in the Cincinnati (Oakley) area.

Related to the author's post, the rents do seem low.

The drawbacks are that repairs/modifications are expensive due to the house’s age and that I have to clear everything through a historical society as a result.

I have assumed that they are relatively stable for prices but when time gets tough it might be harder to find tenants that meet the criteria.

Knocking out mailboxes happens to be a weekend entertainment for drunken youth ages 16-23ish.