Hey guys, my name is Blake Catanzano and I live / invest in Oklahoma City.  

One of my biggest problems, outside of finding funds for a down payment, is figuring out how to get around occupying the residence for the first year.

Does anyone have any experience investing in this city?  

So this is the path I've chosen to follow up to and including being part of my retirement.I believe that networking and gathering real life experience from doing work myself along with following other's guidance (who have been there/done that) will garner me more knowledge and success than paying "gurus" thousand of dollars for bus trips through a city and region I already know well.I am still formulating a 5 year plan (yes, they are passe now a days but I'm old school) and I feel the first steps would be to connect with other REI's, join the local REI Groups and begin growing my network.Any guidance, advice and suggestions from this point forward will be greatly appreciated!

Atlanta is a large, diverse city. 

Check out all the events in Kansas City here on BP and on Meetup.com you will find a lot of investors to connect with . . . . 

I live in Del Rey, California near marina Del Rey and Culver City

These are on different roads in the same city.

My goal is to buy a single-family home in the near future and rent it out.After debating between a few cities, I think I have settled on Jacksonville.

I tried to include all the pertinent information below:Rental Income: $13,200Rent: Currently has a tenant on one side at $550 per month without a lease – I’ve made it a condition of the sale that the tenant has either signed a new lease with my property management company or delivers that side vacant; other side is not rented out due to required rent ready repairs; rental comps in the area show between $550-600 (I’m being conservative and assuming $550).Expenses:Vacancy: 10% ($1,320)Property Management: 10% of gross rents ($1,188)Property Taxes: $2,065 ($905 for City of Memphis, $1,160 for Shelby County)Property Insurance: $450 per year Repairs and Maintenance Assumption: 2% of Property Value per year ($980 per year)Utilities: separately metered; all paid by tenant except for lawn mowing at $25 once a month for $300Advertising: 6% (roughly ½ of first month’s rent) $792 per yearDebt Service: Based on $49k purchase + repair price, 20% ($9.8k) down, 5% 30 year fixed is $2,525 per yearLocation:This is probably where most of my concern is coming from: Western edge of Hickory Hill, Memphis, 38115; major cross streets: just SW of Clarke Rd and Winchester RdAcquisition:Purchase Price: $42k, seller to pay closing costsRepairs: $7.5kTotal Acquisition Cost: $49.5kARV: Large range of comps in the area, best guess is $60kFinancial Metrics:Net Operating Income: $6,105Cap Rate: 12.33%Cash Flow: $3,580 per year, $298.33 per month, $149.17 per unit per monthCash-on-Cash Return: 36.5%Do you think it's a good deal?