Sure, I can give you homework and projects, things to do to create leads.Drive around the neighborhood and look for for sale by owner signs.Run some ads in news papers, Wanted, real estate, houses, commercial and nonconforming roperties, call Chris.

I would NEVER trade that away for speculating on paper cash flow.

Also do lots of SDIRA investing, had one since '98, write paper, equity participation, etc.... now have it set up as checkbook LLC. 

Nicer properties might not seem nearly as attractive on paper, but in the long term they will probably generate higher rates of return.

@Dana PetersBeing all in at roughly 140k and rents of 850/unit, I would say you found a pretty good deal on paper.  

I am not an advocate of the 50% or 2% rules of thumb as prescribed by many but since you plugged in the actual  insurance and taxes, which is what I always use, this seems to be good on paper.

> What about transportation expenses for visiting rental properties.On paper, miles driven is almost always in the 'depreciation' category if you look at the fine print.

In the meantime, I am doing a lot of educating on the subject and some  paper investing to practice with before spending real money.  

The paper I bought is institutional and has terms for assignment of rents, but the borrower is long gone and I'll assume no rental agreement in place.

I might bring them the lease or coordinate it in some fashion, but my parents will be for the most part and on paper fully envolved.