Pulling cash out of a deal or limiting the cash inlay into a deal hugely improves that metric, can give you ridiculous returns, and can allow you to rapidly expand your portfolio even with modest beginnings.

This rule can be modified if you are in a rapidly appreciating market, say 10% or more per year over several years.

It's a cliche.However,one other fad we have seen on BP is this pull to lower priced markets (I won't mention names so as not to offend sensibilities,but you probably know them).The reality of the business is that these markets are lower priced for a reason.You may be getting an assassin's cash flow and C-O-C returns today from your units in these markets but when jobs hemorrhage in a recession,your cash flow rapidly turn negative.Big markets suffer less in a massive recession.Occupancy and vacancies mirror what the local job market is doing.The sole reason I relocated to Jacksonville from Cleveland in 2011 is to stop being an "out-of state investor".That brings me to the other point under this topic.We saw a very lucrative 16-unit listed some 18 months ago.Well,it should be lucrative,except despite listing at an attractive price,most interested buyers couldn't get the numbers to work.The numbers didn't work because the out-of-state owners were getting absolutely wiped out year-on-year by phony expenses logged by their "boots-on-the-ground" and PMs.Even in strong markets,it's crucial to buy in good parts of town.That way,when vacancies inevitably occur during the apocalypse ,your copper wiring or HVACs won't be stolen....or your property vandalized.Choose your market wisely.

The time you spent researching Turnkey providers, talking on the phone with them, due diligence, talking to lenders, scanning and gathering financial documents, looking at inspection reports, closing, talking to PM about repairs, etc. took hours, probably dozens of hours each property, if you're lucky.After the dust had settled, it's possible to spend 2-3 hours on a property per year, but you need to factor all the backend and frontend time.

Although it is not necessarily in the outlying area the city of Gresham is growing rapidly.

@Megan ClancyIf a bank is charging you for anything other than maintenance fees on a HELOC, they are being shady and please share the intel.It's good that you're posting on BP to double check with everyone, better safe than sorry.HELOCs are especially awesome in rapidly appreciating markets where your investment properties can become leveraged piggy banks.

The lower the cost for property, the more rapidly I can make purchases as capital comes in from my primary job.

However I would like to do some rapid expansion, which has me looking at foreclosures.

This one might be a lot of work for a little return, unless you plan to rapidly build your portfolio and get professional management.Oh, and I doubt if any contractor worth his salt will bother with a walk through for $50, unless s/he is anticipating getting a lot of work for it.

Hello I am confused me and the attorney talked at he's office and he stated he can do the case for 3000 so then he took all my files and scanned and made copies but you speak of a retainer agreement I never got any agreement stating the scope of work or anything was I suppose to get some papers back from him?