I already know what I will pay & what the market is in a area & were the comps are.That being said, I prefer to give the $$$ to the listing agent.

You have to use at least a Special Warranty Deed and preferably a General Warranty Deed or they won't insure the title.

If not, then walk the property, preferable with someone else, and video tape the entire place.

It would basically be a trade for a possibly lower return in your preferred area.Any thing you sell for above what you have into it would be a boon for your returns in the year that you sell it.

Assuming you can find a bank that will finance under $50k at near prime rates, you're looking at $190 a month in debt servicing.Cash Flow = $5,400 - ($190 * 12) = $3,120Cash on cash return: $5,400 / $17,800 = 0.30CoC = $3,120 / $17,800 = 17.5%CASH - Purchase: $47,000Repairs: $5,000Closing Cost: $750Inspection: $300Total Expenses: $53,050Cash on cash return: $10,800 / $53,050 = 0.20Your NOI doesn't change based on financing (expenses are not correlated to financing choice though I guess you could in theory not carry property insurance with a cash purchase).

I had a section 8 tenant and she only had to pay about 10% of the $1,000 a month rent payment and over 60% of the time she never did or I had to chase her for the money, so I would prefer not to have a section 8 tenant again.The only reason I took her is because my rental management company tried to find a suitable tenant for 3 months and this was all they could find.

As for texting, I prefer to text tenants than to call, that way I can look back at what each of us said.

And I too, have thought this was more of a lifestyle choice than a good investment, but now Warren says to do it...http://www.forbes.com/sites/janetnovack/2012/01/27/warren-buffetts-advice-to-a-boomer-buy-your-sunbelt-retirement-home-now/http://www.forbes.com/forbes/2011/0627/money-guide-11-real-estate-gallagher-nar-vacation-retire-later.htmlWhat do you think, would you do it?

Locally owned is preferred.

Preferably in South Carolina but I'm willing to search elsewhere.