Most people run their numbers to determine what their profit should be.

If it isn't doable with an individual, could you bundle properties together somehow, like in a trust or some other vehicle, to reach the minimum required numbers?

But before they get it rented again, the copper thieves get there and rip and strip all plumbing, all wiring, destroy the AC condenser unit and all in all cause $10,000 in damage, which the owner needs to pay to get the house re rented and they often pay someone to put the house back together again to go into a quick placement of a new tenant and get back into scenario #1 or #2 again.Along about the time the other $15,000 in reserves run out, they decide they have to sell, but the house that they paid $15,000 for has all the damage to if from the first or second break in and is no only worth about $6,000 . . . so as one of the first reply's said . . .as a new investor going into an out of state market with $15,000 to buy a house  . . . at least in Kansas City . . . save yourself the heartache and head ache and set your money on fire.Or save it and do something else . . . . 

Taking the time to expand your knowledge and get involved with different aspects of the real estate industry will pay off in the long run, just don't go into it with a short term mentality and you should be fine.

In my opinion, the best mentors might cost you lunch once in a while, not work for a consulting fee.Bigger Pockets is another good source to run ideas around.As for books, I think part of your education should be learning how to think differently.  

I am trying to figure out if it is a good deal and what I should be asking or how should I be running the numbers.

I had thoughts that "legitimizing" my business would be a smart first step.a.k.a. making a website, having business cards, getting a separate "business" phone/voicemail to answer prospective leads inquiring about properties or offering them.Would anyone suggest that this is the right direction to go before spending money on direct mailing campaigns/driving for dollars/running advertisements via craigslist or any other source?

Hi All,I have a potential deal in Memphis, TN for a long-term buy and hold duplex (3 bed, 2 bath each side) that I'm a bit torn on (running into some paralysis analysis) and would love your thoughts!

I would like suggestions on which incorporation vehicle is best for me in Florida  I currently have a FL LLC to use for making hard money loans or flipping properties.  

Just getting our business up and running.