You can get into a job and purchase a property based on a low ball quote from an inexperienced contractor and end up half way through the project with no money left.Thanks for sharing and sorry about the bad experience.

I think it could have been left on the old computer so I had to go off my memory and a few notes I had from when I did the exercise.

Either way you got options but W2 life is nice for getting this ball rolling.

(AGAIN LOOKING FOR BALL PARK FIGURE)

Like 99% of us here I recently read Rich Dad, Poor Dad and have had my mind blown open by possibilities.My end goal is to be financially free and have long term income from a balanced investment portfolio starting with real estate to get the ball rolling and diversifying over time.

1) Too much buying competition2) Broker may actually price it at market3) Broker may outsmart (yes, it does happen) a smart investor screwing around with terms like nothing down.Again, an investor needs to decide what makes a good return instead of throwing it out if it is on MLS - They do look, so they do know there is potentialPlus if something has sat on MLS and people think it stale and it's still listed - Seller wants to sell, then make your low-ball offer.

Not only do I love real estate, but I also love to golf, watch sports, exercise, get outside with my dog, and grab a bite to eat at local dives. 

@Todd Young, It's a very delicate gas pedal/brake pedal exercise and much really depend on your lendability and pace at which those current units will sell not to mention the availability for a building that you're looking for.From the sounds of it, Locating the building will be the toughest part. 

I figured after management fees my total will be in the $1700 ball park area.

I wish I had gone through that^ exercise instead of buying a local duplex out here in California.