., equity)4) Repair costs (level of effort)5) Property Type (SFR vs multifamily)

We've spent about $6,000 on mailings and other marketing efforts. 

Mobile homes take a lot less money, are easier and quicker to buy and sell (personal property like a car, not real estate), have much better ROI, and there’s little competition.If you make the effort to get past the myths and misconceptions you just may discover a gold mine :)

I ended up finding a different management company that did make an effort, but it still wouldn't make money.... too far down the death spiral.Summary:  Yes, income property in other states can be great, IF you have experience and/or are working with good people.  

I know in CA many people do not put the effort in and fail the test at least once. 

Take the time and effort to contact the owner and get the lead and then go talk to your friend.

The extra "effort barrier" of calling the owner to get the price was enough to make me pass it up every time.

There's always a chance the deal won't close, and you'll be the one who's out the most cash/effort if that's the case.If you really want to get started, I imagine you probably have at least a month or two of getting drawings, engineering, surveys, getting take-offs/bids, starting the permit process, etc.

It's easy to obtain, costs very little, and doesn't require additional, on-going effort to maintain.

You failed Bjorn, but it was a noble effort.