Sure does make it a lot easier to come up with reserves...

That older wood trim (pine, oak, etc) requires little to no maintenance.I've seen that trim in houses that are 60 years old and while the houses may have some significant issues, the trim still looks surprisingly good.My 2 cents would be to get another quote on the paint job without the doors or trim and see if the difference helps make your decision much easier.

Raymond, your email address appears at the bottom of each of your posts.

As I understand, it actually makes it easier but I'm wondering if anyone has had experience with this before and could offer some guidance.

Thanks David Beard It appears that I have been calculating a lot of rental properties I've look at all wrong.So to further clarify:Gross Rent * 50% = Net Operating Income(NOI)NOI - P&I = +$100/DoorThe other 50% of Gross rent will pay for ALL other expenses including: Repairs, Maintenance, Improvements, Property Management, Homeowners Insurance, Utilities, HOA, Property Taxes, etc, etc

Each produces about $1,000 monthly rental income, but I'm trying to figure out if they are indeed "taking ground that I can't lose".Your advice on starting small an make small mistakes at first appears sound, though.

The reasons I prefer individuals are:- I usually have their cell phone number, so much easier to get a hold of then trying to call an office line and leaving a voicemail- Simple statements, usually in Word or Excel and just simply say the income and expenses and total deposited- Way less players in the game, meaning the one guy handles a whole situation.

It's a great self-motivator - it's a lot easier to say "right, next property pays the water and electricity bill" than looking up at this mountain of what it takes to become financially independent.One way of approaching reaching your goal while not accumulating too many properties is this:- Figure out your comfortable living expenses, plus some money to continue investing once you're full-time.- Figure out how many properties that would take, if they were paid off.

It appears as though once you get to the 100k mark and below you are looking at property in bad areas of town, need a lot of fixing, built in the 50's, etc...as long as its not in a bad area of town I don't mind fixing up a place.

I heard another investor tell a story on securing a lead and speaking on the phone with a homeowner who was motivated but needed or appeared to need a push aka playing hard to get.