Our ideal goal is to look for a property that has future potental for a rental property.

Close if you have to, but likely someone will buy it from you at 15-20% more than the price you locked in.Your market is ideal for growth.

.$324,000 Total CostHolding Numbers:$2,100 Principle Interest Taxes Insurance$1,900 Rent from 4-bedroom SFH (with 7% vacancy this drops to $1,767)$1,300 Rent from myself in renovated 2-bedroom Carriage house$967 Profit with 7% vacancy on the 4-bedroom rentalThe garage could potentially rent for $300-800, but I'm not factoring it in because I'm not sure of how legal that is.This is my first purchase.

@Jay Willems , since everyone is mentioning buying a duplex to live in one side, I will say my first deal was an FHA 4plex living in one unit, and couldn't have been happier with the results, although you have to be willing to make some sacrifices relative to living in your ideal situation you would have picked, all investment considerations aside.All said and done, well worth it..

http://www.biggerpockets.com/blogs/4178/blog_posts/33328-wondering-what-its-like-to-search-for-properties-take-a-look-hereIn fact, here are a few more of my posts that may help you..http://www.biggerpockets.com/blogs/4178/blog_posts/30227-fact-or-opinion-which-is-the-best-information-to-give-a-fellow-investorhttp://www.biggerpockets.com/blogs/4178/blog_posts/33000-my-favorite-quote-to-datehttp://www.biggerpockets.com/blogs/4178/blog_posts/29349-arv-calculatinghttp://www.biggerpockets.com/blogs/4178/blog_posts/30113-how-to-qualify-as-a-landlordhttp://www.biggerpockets.com/blogs/4178/blog_posts/28728-property-searching-tipAgain, not trying to be an ***.

Ideally we'll be in another property by the time any future kids would be school-age, but want to set ourselves up right in case the plan doesn't entirely pan out.

Even if the place is new, you must factor in repairs in case a renter destroys the place or something else happens that maybe insurance can't cover.

All these factors can eat into your cash flow and ROI.You as the investor also have to think about what your want in terms of monthly cash flow and how quickly you want to make your initial investment back.

@Matt Devincenzo I don't disagree with you.However, after some personal conversations with the presenter, knowledge of her background, and some other factors, I trust her when she says she's had at length conversations with TREC Legal who interprets it a different way and inserted it into the code for that specific reason.Also, this is just how you're suppose to do things.

There was always some other factor in play.No, I don't do that now.