I invested $20,000 between marketing positioning, establishing the legal entity, etc.

If I were in your position, I would start small while keeping my day job.

I am in the same position.

I would, however, be interested in discussing your take on investing in this area - with the high taxes, I'm expecting it to be tough to find a property with enough positive cash flow.

Also, the money you spend after you buy but before its rent ready adds to the basis and is not expense, even if the item would have been expense after it was rent ready.A profitable rental will have a positive taxable income.

So cash positive.

Then evict them for breach of leas4- your lawyer can find something they did- always negotiate from a position of strength- I have found w/ a threat of criminal action most people back down.Dont let these bums push you around!!

I think I am gonna pass on the deal, the financing I can get at the moment isn't great (5 year ARM) and with my understanding of economics I don't want to position myself near anything that is based on long term treasury rates.

You are perfectly positioned for a technique we commonly refer to as bridging.

The key is to make sure there is a positive cash flow as it is now.