Of course I'm not including vacancy, repair cost, etc but just trying to get opinions on if there may be a good formula that would help someone with this, or if it's just a matter of making a quick buck versus continuous steady income. 

Hello, I am faced with a decision and would like some advice. I currently have a full time dependable job and about $13,000 saved up. I am wondering if I should put all of my extra income (amount of money left after a...

I'm just trying to gauge what happens in this market versus my only other experience, which is in NorCal.

You would have to possibly go commercial with an ARM versus a fixed rate with the properties under your personal name.

Before I lived here and tried to rent, as I was from Portland, all these "extra fees" shocked me - yet there is no way to get around them.And then consider what you should offer versus your highest and best.

Strangely, the church did not appear to frown on those premarital habits.IF you choose to go this route, check out both your local housing office AND your tenants carefully, especially monitoring the number of people who are actually living in your rental property versus what you have approved on your lease.Gail

If it takes you 40% down to assume a loan in place that is coming due in 3 years versus you could get a new loan for 10 year term and 30 year amortization with 25% down your cash on cash looks a lot better.

It depends many factors, such as your seniority and pay in your IT job versus where you would have to start in real estate.  

However higher property taxes when combined with a possible loss of homestead exemption will increase your monthly carrying costs on the property.If your plan is to return in 5 years then you may want to run some calculations on the carrying cost of the property versus what you think a similar (or same) property might be worth in 5 years.

You also want to look at their budget versus actual (income statement), delinquencies, minutes, reserve study (are they saving for future projects?).