Most of the good stories have come from people that owned 20 to 30 houses at least and usually more.I am 61 years old and I'm bedridden so I spend 7 days a week, full time learning about real estate learning including book reading which I can complete each book in about 2 weeks. 

@David HaldDon't spend your 35k and waste your great private money on a deal with that small cash flow.

I know I can't time the market, but my current plan is to spend as much time as I can reading and educating myself, while waiting for the market to return to equilibrium. 

I wouldn’t do it....you spend the money to fix it up, someone is going to feel like they got the short end of the stick.....either you rent it and collect money forever or they need to sell shortly after.

Spend $1,000 to save $300?

The suggestion was to open a credit card and spend to setup a credit history. 

Maybe next time spend an extra $20 and stay in an A class neighborhood vegas hotel. 

If you spend all or most of the $40K on the next property, and if you will have some cash reserves for emergencies, I can get behind this scenario where you would continue to pay her $550/month. 

Sounds like good advice, Anthony, and I can say I've been learning more about the area every day, as I spend a lot of time on foot or on bike to learn all the streets.   

Credit cards send these checks with 0% for 12-18 months, it's enough time to buy a house, turn it around and refinance once it's rented.Two of my credit cards just sent me checks 0% till January 2020, plus I have 3 cards to spend with 0% until December 2019-February 2020.It's much better than paying interest on $12K maxed up