@Patrick Yungck I would save the 70k and raise money to buy a large apt community with other people's money.

The only way to raise rent is once a year and according to Consumer Price Index (CPI).

"No sign shall be erected, raised, installed, moved, placed, replaced, reconstructed, remodeled, extended, enlarged or altered unless a sign permit is first obtained from the Community Development Department."

Chapter 6 of the Beginner's Guide had some good high-level information (http://www.biggerpockets.com/real-estate-investing/financing), and there are some great posts on here about raising capital for your investments.

Have a good job to raise the capital for the seed money, and on the night and weekends go find a real estate mentor and work with him/her for a while and see if you even like doing real estate work.

Accrual, running inventory under LIFO or FIFO only has advantages in taxation when costs of inventory adjust to raising or falling prices of parts or unfinished goods that are held over your accounting period, as in inflationary periods or long holding periods.

I currently only have 2 properties but one is sitting at 1.4 and my second one was at 1.6 but I just raised rent by $50 per month so it is now at 1.7.

Obviously I am not making any cosmetic repairs until she is current, but I'm in the position where if I do all of the repairs I am going to want to raise the rent to at least the market price point because that just makes sense to me.Is it customary to paint and replace carpet while you have a tenant in the property or is that more of a process you take during tenant turnover times?

I have raised private money, Joint Ventures, and so on...

I was born & raised here & plan to stay for the long haul.I work at a local CPA firm that focuses mainly on tax preparation & bookkeeping.