After learning about cash return on investment and debt service coverage ratio, it seems to me that a nearby city to me, Harrisburg, PA, would be an optimal place to achieve the appropriate numbers.I've been told 2.0 for DSCR is solid and Cash ROI above 25% is a good target.In Harrisburg, properties can be bought for 15,000 with 7,000 put into them with potential rents of 800.

Tony with that 50k in Orlando why not go and buy with all that cash,in my opinion i wouldnt go after the deal with it being you're paying that much for a quad,also in my opinion never count on an area going up or thriving.I'd check into other similar properties near by before i'd go in contract

Ann Landers would say, "Wake up and smell the coffee".

Since I've been stalking the house, I've noticed that there are 2 other empty homes nearby.

.- At least if you are just starting out, start in your own state or nearby state.

A stop for gas, bread and milk often leads the customer to remember they also need coffee and orange juice (whatever) and then they head to the main store a few hundred feet away.

there's one about half block from 1 train.. 80% renovated when the developer ran out of money (it's in good shape).. contractors estimated about another $500k work into this 5 story townhouse.. two 2bd 2ba floor thru unit and 1 4bed 3 ba duplex with roof top terrace.. plus a ground retail space..real estate agents estimated the rent in this area for 2bd 2ba is at least $4200.. and duplex at least $16,000 .. retail unit was already requested by a chain coffee shop for $12,500 .. annual expenses around $53k.. 7 and up cap rate.. bank wants $4.6mil.. which is way below market rate (local brokers estimated $9mil FMV when it's completed).. question is.. how to do this deal with no money down??

@ C&J - I was thinking about calling a nearby Ace this morning.

Dallas, TX and nearby areas is where I am looking

Although the only risk of getting an option to buy on a property is having wasted time and a laugh from local investors, it is important to get comps on the property (due diligence comparing nearby sales and to see if it is a good investment).