If water is an issue you can set something up by running a hose from a neighbor to your main water supply that comes into the house if others have water.

Account Closed - so much of the question about tenants is going to be dependent on the class of property you are buying...Vacancies - I run about 7-8%City - if you have a code violation they give you plenty of opportunities to fix.

Next thing I knew we were off and running.

Any other good ways to start out I don't have built up capital and I'm working on fixing my credit to have more options in regards to that in the long run

Expenses long term will run 50% on a SFH, not today but definatly over the life of the property.

My weekly goals include 3-5 hours of continued development on my business plan to fine tune the tactical plans needed to implement my overall strategy, research my targeted markets, and run through "practice" investment scenarios.  

Anybody buying up old property out there right now is paying $300k+ for a run down shack that needs to be razed and build a McMansion/vacation rental in its place.

When I first visited the property, I can tell the owner had neglected to keep the property updated and let the tenants run things.

My business partner runs our flipping/wholesaling business in Chicago. 

But the problem is that the current HOA has no legal representation currently no board, no valid address etc. now another investor came in and bought about 70% of the units and they plan on trying to get the HOA up and running at the annual meeting in February.