Things go exactly as expected for the first 5 years, but then you have a terrible tenant and he does $5,000 of damage.In this instance, your entire profit for the entire 5 year period is wiped out and it will take you an additional 22 YEARS to make up the loss (assuming that you don't have any further losses - which is very unlikely).

The tenants can then decide to file a civil suit, but there's no way in hell they're going to pay an attorney on an hourly basis (an attorney would not be paid a contingency in this instance).

We're looking to start an investment portfolio by finding a way to make good/great money on a first deal and growing steadily from there.

tpercival, I agree that there are some great online resources like you mentioned, however, they are only as good as the availability of information the conclusions are drawn on.For instance, comps I have gotten on properties in Texas were way out of whack.

If it's bad, for instance, you will probably be told to clean it up first.

For instance, I'm sure there is still some sort of contract between you and the "seller" in order to protect them.

As your portfolio grows, you will need many entities.Good Luck,Mike

I have read tons of books, etc. etc. etc. my hands grow from where they are supposed to grow, i.e.

as far as not needing "any money" to wholesale - in new york for instance - a real estate contract is considered void if there is no consideration in the deal.

Or if there's a good (as opposed to 'bad') web site or anything else that will help me grow beyond my current newbness.