I look forward to interacting with many of you.  

Basically, the money was getting spent but the work wasn't moving as I had anticipated.

I would buy one less property, hold the rest long term and keep a reserve for anticipated capex. imo

To make sure I am following what you are saying, let me give you this scenario;2015 Income 30K, 2016 Income 40K,  Anticipated 2017 Income 40K.

MSA and therefore crossed of a few locations from my list that have significant sprawl, but would still meet the 500,000 person requirement if the full statistical area was includedMy result: 8 citiesSan Antonio, TexasFort Worth, TexasLas Vegas, NevadaCharlotte, North CarolinaPhoenix, ArizonaHouston, TexasJacksonville, FloridaPhiladelphia, PennsylvaniaStep 7: Going back to the generic beginner advice of investing close to home, I prioritized the East Coast cities that remained on my listMy results: 3 citiesPhiladelphia, PennsylvaniaJacksonville, FloridaCharlotte, North CarolinaStep 8: Leveraging the following two resources from a friend, I was able to cross Jacksonville off my list due to greatest distance from NYC of the three and highest risk of natural disaster, a combination that I did not want to deal withhttp://money.cnn.com/interactive/pf/real-estate/natural-disaster-risk-map/http://www.nytimes.com/interactive/2011/05/01/weekinreview/01safe.html?

If I let this pass due to inaction, I might have to remain a renter for another couple of years - specially with the ever increasing prices in Jersey City and anticipated higher mortgage rates. 

It was a longer process than anticipated but it was a HUGE learning experience! 

The IRA capital can purchase a house and pay contractors to do work on that house, so long as there is no direct or indirect benefit or transaction between the IRA and a disqualified party (you, lineal family, entities owned by you or lineal family, etc.)The IRA can joint venture or partner with other investors, but should not interact with you or other disqualified parties on funding a deal jointly.

I would price in management and CapEx, even if you don't anticipate those expenses right away.Down Payment (25%): $112,500Principal and Interest: $1812 (30 year amort, 5%)Taxes: $750Insurance: $208Management (10%): $400Vacancy (10%): $400CapEx (10%): $400---That puts your monthly cash flow at $30.

Devang Patel and how long do you anticipate the eviction process to go for?