The keys to my success have been threefold - buy distressed above average properties, put some working into the house (averages about $3k above paint and carpet) to update all the usually suspects (toilets, faucets, water connectors, old cruddy light switches, and any visble plumbing and caulking issues -- you know, standard PM work from the Navy days and then get a home warranty.

I believe in "defensive driving " - in other words when on the road assume the other driver may not be proficient, may shoot the light, may overtake where they shouldn't, etc.- Not all drivers are bad - in fact most are not, but when you do come across one, you won't be surprised, and hopefully will brake in time.  

Could someone shed some light on this subject for me.

Here in Texas we have what you call discounted realtors were you pay a fee up front light $500 - $700 & you pay the 3% to the buyers agent.You can also call the wholesaler back and ask him why none of his buyers was interested in buying the property.

Changed 20 burned out light bulbs!

.$2500 down274,000 purchase price10% interest PITI $ 2422.10Max income would be $2850 (rent)This obviously will not work when you include any taxes, insurance, management, or CAPEX.The properties should be able to be resold for a little over 400 K with some light rehab. 3 of the properties have recently been rehabbed from what I can see.

(that can raise anxiety for you later on)What happens when there are issues?  

It is tough to see the light of day when you have a family and non-performing assets.  

Also, what ONLINE resources could you share which might shed light on:market rentsmarket rehab costsBefore you say it, I am calling local brokers, CPMs, and others for this data.

Keep it light on the sympathy and a little professional.Dear Smith Family,My name is Jeff Meachen.