I was able to find a good tenet who was actually the best friend of my neighbor.This tenet and his wife were both doctors with one pre-teen child.They had bought there place at the height of the market and were just wrapping up a short sale.I was able to get them on a 2 year lease at $1600/month with a $1600 deposit and no property management.What a great opportunity (they continue to be absolutely fabulous to this day)!

Leigh C this is a typical apartment rent in my area, there is some absolutely horrible single family homes for sale and a few not as bad apartment buildings that are in my price range for purchasing a convenient first investment property.

The kitchen has hardwood floors, which are in good shape, but the carpet throughout the rest of the unit was absolutely disgusting.

Absolutely @Aaron Coplin and here's a link to find the podcasts directly from the website:http://www.biggerpockets.com/renewsblog/category/podcast/

I would absolutely recommend having a system installed, because I think it's a selling point.

You should absolutely look for a place that will cash flow from day one. 

Absolutely ask to see the lease agreement! 

@Ronald Wentz This past winter was absolutely great time to buy properties.

There is absolutely nothing we can do until Bay National Title gets us the deed.  

I realize that this doesn't meet the 2% rule etc. and I'm not trying to hit an absolute home run here with my first property but I don't want this to be a total whiff either.