That said, I probably buy an overpriced cup of coffee a few times a week for the convenience factor :)I can understand that part of what makes TK properties what they are is the convenience factor.

However, if you add-in the cost of laying a subfloor... there goes the very attractive "cost" benefit factor,  To end my long worded response:  Smoothing the slab is more labor intensive but less costly than laying an entire subfloor, but definitely the way to go.  

The HOA fees in some places are astronomical as well, make sure you factor that in.

So if he has a good reputation that can be the deciding factor. 

Originally from Minnesota, I've fallen hard for the beautiful red brick homes of St Louis.  

Overall violent crime isn't a big factor here, but there are pockets where there are a lot of drug users.Overall, like any investment, I would make sure you are familiar with the area you are buying in before you invest.  

Is the normal commission before brokerage splits 3%, factoring in the buyer/seller splits?

From what I've heard, it seems like a solid area to invest, considering the steady rental demand and quality of tenants, among other factors.

Disregard - I finally figured out how to add the time factor into my formula.

People with a lot of money still like to work they just do what they love and enjoy as money is not the primary factor but secondary at that point.First thing is take a long and hard look at your budget and what money comes in and what goes out monthly.