In fact, I don't remember the subject of TK investments ever even coming up in the hundreds of conversations I've had with new prospects.

The numbers look ok, but what are the long term prospects for appreciation, both in rent and price ?

As used in this chapter: (A) "Real estate broker" includes any person, partnership, association, limited liability company, limited liability partnership, or corporation, foreign or domestic, who for another, whether pursuant to a power of attorney or otherwise, and who for a fee, commission, or other valuable consideration, or with the intention, or in the expectation, or upon the promise of receiving or collecting a fee, commission, or other valuable consideration does any of the following: (1) Sells, exchanges, purchases, rents, or leases, or negotiates the sale, exchange, purchase, rental, or leasing of any real estate; (2) Offers, attempts, or agrees to negotiate the sale, exchange, purchase, rental, or leasing of any real estate; (3) Lists, or offers, attempts, or agrees to list, or auctions, or offers, attempts, or agrees to auction, any real estate; (4) Buys or offers to buy, sells or offers to sell, or otherwise deals in options on real estate; (5) Operates, manages, or rents, or offers or attempts to operate, manage, or rent, other than as custodian, caretaker, or janitor, any building or portions of buildings to the public as tenants; (6) Advertises or holds self out as engaged in the business of selling, exchanging, purchasing, renting, or leasing real estate; (7) Directs or assists in the procuring of prospects or the negotiation of any transaction, other than mortgage financing, which does or is calculated to result in the sale, exchange, leasing, or renting of any real estate; (8) Is engaged in the business of charging an advance fee or contracting for collection of a fee in connection with any contract whereby the broker undertakes primarily to promote the sale, exchange, purchase, rental, or leasing of real estate through its listing in a publication issued primarily for such purpose, or for referral of information concerning such real estate to brokers, or both, except that this division does not apply to a publisher of listings or compilations of sales of real estate by their owners; (9) Collects rental information for purposes of referring prospective tenants to rental units or locations of such units and charges the prospective tenants a fee.

Costs in Southern California are pretty high, so we are considering other areas like Las Vegas or Bakersfield - affordable with decent growth potential, but close enough to home to visit prospective properties.We still have a lot to learn, and this site will be an invaluable resource.

Not sure what my next step is other than showing the prospective tenants buildings I'm looking at.

Jimmy S. ..I require deposit after prospect meets renting criteria/credit pulled.

I also use star analyzer to size up prospective deals

Another good one they discuss on one of the podcasts is to drive and get to know your prospective investmetn area.

If you get an angry person, be sympathetic, tell them you will not contact them again.Direct mail only works when you reach out to prospect about 3-4+ times and your response rate will increase with each touch.

It is only then that you are most likely to know how to target prospects, write good copy and close deals that make sense.I'm betting at least 90% of the people who post here and on other forums do NOT make their living as real estate investors.