We are still new at this and may not be taking everything into correct consideration, but we are looking to get the best return on our investment, both short and long term.

Spam protectors are one example of a perk since we are on that subject.

I think we are missing a MAJOR piece of the deal.

We are actually looking at a property now that has a single family house and 3 apartments on it.  

After a couple of rounds we are now off on our own! 

Hi Bowman, it seems to me that your biggest disadvantage will come from the lack of knowledge about what is feasible in the market you are in, because I think that should largely affect what your acquisition strategy is.For example you may want to buy something that cashflows but if you are in a rapidly appreciating market like we are in right now in the Twin Cities, you will have a hard time finding something to get excited about and will need to target different asset types or adjust to find another way to get your money to work for you.In this market your advantages aren't particularly helpful as there is so much money chasing deals, that the ability to qualify for financing doesn't really set you apart.  

We are looking at the higher comps in the neighborhood since most of the house is in great shape and the repairs we calculated was to bring the kitchen and master bath up to higher standards for the neighborhood.

All need a some repair, mostly minor age related wear and tear, but some need a lot and a full rehab on these would be more than the value of the trailer.Anyone done this before? 

We are still small, when will I know if it is time to invest in a better accounting system? 

@Bjorn Ahlblad We are in the process of starting our investment strategy and could really use a good CPA.