If the deal makes money with all the expenses involved, then its a good deal.

I understand how slow GOV involvement could be, but it sounds like a good option to use the cash for rehab as well as the sale.

They require more babysitting and it's hard to find a competent property manager that works in the rough areas because the management needs are more involved and the rents are cheaper, meaning less of a management fee on a percentage of rent basis.

Hedging my risk!

Taking the time to expand your knowledge and get involved with different aspects of the real estate industry will pay off in the long run, just don't go into it with a short term mentality and you should be fine.

For me, as long as the numbers work and you're comfortable with the risk, it's a great way to get started.What areas have you been looking at?

Hi @Randy Jones,I think for your first deal, keep it to one property to make it easy on yourself and limit your risk of making mistakes and getting overwhelmed. 

However, I can’t get average maintenance cost, vacancy rates, risk information from them based on their portfolio (they hold this information close to the chest) which is what makes BP such a good sounding board for me..

The security deposits haven't covered the damage done, we've increased the rent for pets as well as the deposit to cover anticipated costs.Whichever way you choose, just make sure you mitigate the potential risks.

Your first purchase will probably involve a 20-25% down payment if you use a traditional residential mortgage.