But, geographies vary greatly, so maybe you can consistently achieve that with a broader focus.If you aren't going to be close by to manage the property manager, I'd suggest nicer neighborhoods or looking for pockets of nice in the lower areas.

I have a nice chunk of capital set aside as well as access to financing.As I have quickly learned in what I've read thus far, building your network and team is close to (if not number 1) the most beneficial and important pieces of this business.

I'd also toss at least an 8% vacancy rate in the numbers.Run those numbers down against that $900/month section 8 voucher and I'm pretty sure you'll be making a nice chunk of change so long as you don't have to pay utilities to get the $900.

I've done the research and think $170k is reasonable, but if my offer of $100k is accepted that still gives a nice safety factor.

What ever monies extra you give him for being a nice guy, comes out of your pocket (profit).

West Pembroke Pines/Miramar, Cooper City, certain parts of Hollywood and Boca are pretty nice and contain mostly young families.

Nicely acid stained is 6 to 10 per foot so I would not go there.

I joint ventured with my buddy builder and we hit the jackpot. 38 homes with nice profits.Point is to let your imagination run loose when your looking at a property and then work the numbers, you never know, for example when I had to move to my present location I looked at a duplex for sale in a great location of nice homes.

He was amazing & we completely changed the operation of the property & made a nice profit (until the next drought & a couple of 'IRS type' issues).He had actually worked in my 'real world' & what I learned from him has influenced my 'financial approach' to many deals since.Enjoy the experience.

Our line of credit is by far our favorite financing, nice to pay it off when cash is flowing but still have access to it when needed/desired.Agree that the Section 8 Bible is a great resource.