I do think now that i have some under my belt, my best bet would be to just hire contractors myself in the future, but right now I am taking a hiatus.

I bet if that is what he was looking for. 

Two tips:  Plan for Property management when you buy the property (because you will move), and don't bet on appreciation and selling in 3 years (that's gambling).Good luck!

I still wouldn't bet my life that that's the best way, but I'd bet money on it.

Jay,Didn't anyone tell you - Never buy a rooming house on Elm Street ;-)I do like the airline personnel model, but find student rooming house and those close to research/teaching hospitals are good bets as well.  

I'd say about $1,300/month including expenses and financing is a safe bet. 

This is not a seamless plug - I would be willing to bet anyone on this site would agree that this is good advice. : )I would highly recommend, as you start on this REI path, that you meet with a financial or mortgage pro (I would actually recommend you meet with a number of them).  

One thing I would say is that given your capital resources, your best bet is probably going to be a Joint Venture type situation with an individual seller.

If you figure out that a Hard money capital source is your best bet...give me a c all

You bet Gulliver, good luck.