(closer to 6-7)So a few colleagues of mine are interested in pooling money every month to form a buy-&-hold rental company that would buy rental properties every few months.

Pictures speak better than words:and then right through the back yard:

so being new to REI  I wanted to get a few eyes on my 1st deal and see if I could get the opinions of a few people here on BP.asking price 249k, 4 unit mulit. 3 2 bed one bath, and a 3 bed 2 bath SFH with a pool on the same property.

. :) I just got one under contract, I paid my pool fee, and now I'm in looking at great deals all over the USA.

@Bill Gulley sez to start in my own back yard.

I agree with Account Closed you need to learn as much as you can and I will ad that you do that best in your backyard (or at least close by), maybe within 30 min to an hour.

Great Property ... hands down.Quality of the tenant pool is everything to me.  

Water can still collect, or pool in a pipe, even after air is used.Best bet?

I tend to agree with a lot of advice I've heard through the BP network suggesting that looking in your back yard (or street, town, state...etc) for deals.  

Absentees are THE best pool to hit on a regular basis - we mail to them monthly.