Check Rentometer and Craigslist to get an idea of rental rates, understand how to calculate all expenses (especially how to look up property taxes and get insurance quotes), and interview multiple property management companies.Hope that helps and best of luck!

Title insurance and escrow will probably be around $1,500. 

Coke is a safe stable investment pays a decent dividend - Netflix was a high flyer with amazing returns.

If you are looking for something to estimate costs for a rehab I suggest using this book that is used by insurance adjusters to estimate replacement value on items.

If that payment doesn't include taxes and insurance, you need to add that into your monthly expenses, as well.

I think your first move should be to get your financial situation a little more stable, which should be fairly easy for a college educated individual in this economy.

She owns a retail store and I own an insurance agency.Would be willing to do out of area investing deals, but need volume in order to make the cost of a management company feasible and my $100K probably won't stretch extremely far on its own. 

Hi Memphis Investors,I have a question about Insurance in the memphis area. 

call your insurance company.

@Melissa YeungThere are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.