So some people have 500,000,1,000,000 already that they made in stocks or another profession.What they usually don't have is time to manage flips etc. and want a more turnkey investment.I have clients that are very wealthy and they are selling because they are at the end of their life and want to retire or they just want a credit rated product that will keep up with yearly inflation.In the beginning you take more risk to build wealth and later on minimize it to preserve it.

I am going to take down the wall between the kitchen and living room to create a more open feeling and install an island.

But this is a more valid argument as it applies to SFH and condos rather than multi-family.

What I was referring to was whenlooking at the big picture, a couple with 4 kids would have a more difficult time paying rent vs.

Not sure whether at your price points you would need to have a separate LLC for each property; maybe for an apartment complex or a more expensive building it is a good idea to have a separate LLC for each property, but for these really cheap houses you should ask your attorney to give an opinion.

Although you may think you are competing only against other "B" properties, potential tenants are considering spending more on rent to live in an amenity rich "A" property and spending less on rent to live in a more basic "C" property, as well as renting individual houses, either as solo or shared, and or moving in with relatives.

I want to jump back in in the near future when we are in a more permanent location.

A more aggressive and risky purchase price would be somewhere around $45-50K, but of course, if the inside needs to be gutted, you're likely in trouble.

AND if you use this money for business purposes, you can deduct the interest as well.Read Dmitriy's posts for a more complete analysis of advantages.

I personally use 25% for vacancy and un-collectible allowance (the banks love this, BTW) with a more realistic number about 13% for my area.