The truth is that the vast majority of rental properties are bought by newbies who know nothing about the rental property business (i.e. ignorant newbies), who will crash and burn in a short period of time.

Real estate can be a part-time venture if you have funds to invest into systems, outsourcing, major marketing, etc.

You can post ads on all of the major free online classifieds and watch the calls start to flow in.

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In Baltimore MD they are advertised in the Baltimore Sun, The Major daily.

I actually majored in real estate.

Who do you want on your team (real estate investing is a team sport and does not start out a singular sport): Real Estate Agent, mortgage broker, banker, inspector, insurance agent, CPA, real estate attorney, property manager.

Sorry to say, but a major renovation may be required.

This could be a major fiasco, especially if the other offer is for more than whatever price your negotiations are at.

That would be my major concern of risk.That and where is the upside potential?