Which I'm sure has happened too.Yea I know that there are those who run that game. usually they were welcomed tenants at one point but became tenants in sufferance later on.

Landscaping completely done, including new trees planted.

You want to move up the 80/20 leverage curve from technician to investor/entrepreneur.In Bridgeport, CT and Texas the investment is about 10% of rents collected which frees you from taking resident phone calls, coordinating maintenance, leasing vacancies, accounting P&L's, conducting inspections and making property payments.Owners often times suffer from "death by 100 cuts" when having to handle all of these small items, missing opportunities to achieve bigger goals.

Given the right company and circumstances I'm considering it as an option.Right now I'm suffering from analysis paralysis. 

@Michael Plante Actually what happened after I got the contract signed I started checking into this guys references and calling people he said he did business with.

When it comes to researching where to stay people want to see everything they are going to get in the price they see on Airbnb, if you start adding things after that you will suffer.

I continue to be impressed with the improvements taking place in Salem - from the new train station, power plant, and all of the restaurants and bars. 

@Kevin Wood The houses did not flood and did not suffer any major damage.  

@Michael Plante I don't think a person should break even either, but that's not a bad result for a first-timer.

@Michael Plante have both touched on the thing you may not be aware of,Every REO that I've purchased during the OO period will have the following requirements as a part of the sales package regardless of how you pay for the property, cash or financing.1) You will be required to sign a sworn affidavit stating you will be using the property as your primary residence. 2) You will have to sign the affidavit stating you agree to be moved into the property within 60 days of the closing settlement date.3) You will sign stating you will not sell or rent the property before the one year point from the settlement date.At the bottom of the affidavit it states if you violate any the aforementioned things you're committing mortgage fraud and will be federally prosecuted if it is determined you violated these terms.