OR a same size townhome (although townhomes have HOA which I hate....)Price range: $150 - 225KI will most likely finance these properties with minimum 10% down.The challenge is to find something that can be rented right away and starts to generate $200-$300 in net cashflow after any property management fee thats required.  

I found several fourplexes listed for 150-200k that currently have tenants, that generate $3k a month in rent.  

Not many properties in the Greenville, SC are can generate >1% income-expense ratio.

Additional details:I've vented about this here before but I've been looking for a lender forever who will value my property based on the income its generating rather than "comparable properties".

A property whose gross income is 0.9% of purchase price generating 12% ROI and $400/month free cash? 

That is why I prefer to use brokers rather than generate leads myself.

Another thing is that if you buy the houses right, they don't necessarily have to be paid off to generate income, they sure do better for you when they are though...

@Michael Gonzalez im also interested to hear about your lead generation system, seems like theres still some pretty good stock that way.

It generates about $28,000 net profit per month.I only have about $50,000 cash.

It generates more than the water bill.